Trump’s crypto policy evolves from council to expert summits
Shifting strategies address diverse crypto interests and regulatory challenges with industry leader collaboration.
Key Takeaways
- The Trump administration would hold targeted summits with digital asset industry leaders instead of establishing a formal Crypto Council.
- The summits will address policy areas such as banking, payments, data centers, and bitcoin mining.
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The Trump administration is considering shifting away from establishing a formal “Crypto Council” in favor of hosting targeted summits with digital asset industry leaders, Unchained reported, citing people familiar with the matter.
The proposed approach would convene rotating groups of crypto leaders to address specific policy areas, including banking, payments, data centers, and bitcoin mining.
This format would aim to reduce tensions between competing industry factions, particularly between centralized and decentralized projects and their differing views on traditional finance integration.
The plan is set to be a departure from Trump’s announcement of a “Presidential Council of Advisers for Digital Assets,” which was to be chaired by venture capitalist David Sacks.
Bo Hines, initially named as the council’s executive director, has reportedly been consulting with stakeholders to explore alternative approaches.
Industry trade groups have been involved in providing input for the summit planning process, though the timeline and number of proposed meetings remain undefined.
The consideration of these summits follows Trump’s January 23 Executive Order on digital assets, which promoted US leadership in blockchain technology while prohibiting Central Bank Digital Currencies.
The order also established a working group to review crypto regulations and develop a comprehensive framework.
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