President Donald Trump is scheduled to host an event on cryptocurrency at the White House next week.
The Crypto Summit will be held on Friday, marking the first-ever White House event of its kind.
Trump is expected to deliver remarks during the summit, the White House said.
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The event will include “prominent founders, CEOs, and investors from the crypto industry, as well as members of the president’s Working Group on Digital Assets,” according to the White House.
The summit will be led by venture capitalist and White House AI and crypto czar David Sacks and will be administered by the working group’s executive director, Bo Hines.
This comes after Trump signed an executive order in January to establish the working group, which consists of officials from various federal agencies to advise the White House on policy surrounding digital assets.
The working group includes officials from the departments of Treasury, Justice, Commerce and Homeland Security, as well as the Office of Management and Budget, Securities & Exchange Commission and the Commodity Futures Trading Commission, among others.
During his 2024 campaign, Trump vowed to streamline regulations, support a stablecoin framework and establish a Bitcoin stockpile, according to Bloomberg News.
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Trump has not yet fulfilled all of those promises, but his administration’s policies and the summit signal a significant change from the Biden administration’s tough regulatory approach, Bloomberg News reported.
The president, who previously criticized cryptocurrency as a “scam,” even introduced a memecoin shortly before he returned to office in January.
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