Trump to hold first Crypto Summit at the White House

President Donald Trump will be holding a summit on the topic of cryptocurrency next week at the White House, the Trump administration has announced, where the president will speak.

A statement published by the White House on Friday evening stated, "President Trump will host and deliver remarks at the first ever White House Crypto Summit on Friday, March 7. Attendees will include prominent founders, CEOs, and investors from the crypto industry, as well as members of the President's Working Group on Digital Assets."

The chair of the summit will be AI and Crypto Czar of the Trump administration, David Sacks, and the event is going to be administered by the Working Group's Executive Director Bo Hines. Trump is slated to speak a the event and before the summit, wrote in an executive order that "the policy of my Administration [is] to support the responsible growth and use of digital assets ... across all sectors of the economy."

The White House accused the Biden administration of having "unfairly prosecuted the digital asset space" and said that the next four years "represents a new era for digital financial technology" because of Trump's vision for cryptocurrency in the United States.

"The administration is committed to providing a clear regulatory framework, enabling innovation, and protecting economic liberty," the White House added. On the eve of Trump's inauguration, the president also held a "Crypto Ball" in Washington, DC, where many investors and others in the cryptocurrency space joined.

Over the course of his administration, former President Joe Biden vetoed significant legislation that would have allowed banks and other financial institutions to hold Bitcoin, further streamlining the digital asset.