The first-ever White House Cryptocurrency Summit will be held on March 7, 2025. The summit will be chaired by President Donald Trump, with David Sachs serving as the moderator.
With Trump's recent moves, many investors are expecting positive changes. Below are three key agenda items that BeInCrypto believes will be discussed at the summit.
Progress Towards Regulatory Clarity
For years, the ambiguity of regulations has been a headache for Bit investors. The previous Biden administration took a harsh approach, with SEC lawsuits targeting industry firms. This appeared to overly suppress the market and hinder growth within the US.
Trump's Bit-friendly stance could change this. The summit may present a simple legal framework for digital assets, addressing issues such as exchange compliance, DeFi regulation, and stablecoin management.
David Sachs, a supporter of stablecoins that strengthen the position of the Dollar, may push for policies to legalize USDC or USDT.
Evidence of this shift can be seen in the recent dismissal of several SEC lawsuits against Bit companies, including Uniswap, Kraken, and Coinbase.
Most importantly, the guest list for the summit is very short, and several major Bit leaders have already been invited. This suggests the White House wants to engage directly with these leaders, which could lead to more policy proposals.
"More people are confirming their attendance at the White House Bit summit on Friday. Confirmed attendees so far include Michael Saylor, David Bailey, Matt Huang, and JP Richardson." - FOX reporter Eleanor Terrett said.
More Details on the US Bit Reserve
President Trump recently announced plans to establish a strategic reserve of BTC, ETH, XRP, SOL, and ADA. This has already had a positive short-term impact, with investors in these coins particularly interested.
However, details on this strategic reserve are lacking. Where will the funds come from? Will seized assets or existing Treasury authorities be used?
The size of the fund and which assets may be added to the list could also be discussed at the White House Bit summit.
"The President is confident there is a BTC strategic reserve. Now the question is how other cryptocurrencies will be treated, and that model will be unveiled on Friday." - Secretary Lutnick told The Pavlovic Today.
At least for now, this strategic reserve could bolster the legitimacy of Bit and boost the morale of long-term holders.
Bit Tax Policy
Another likely topic of discussion is Bit tax reform. Trump has hinted for some time at eliminating capital gains tax on Bit.
Lower taxes would reduce costs for individual investors and increase their profits, potentially stimulating reinvestment and market activity.
Completely eliminating capital gains tax may be difficult due to congressional opposition. However, smaller adjustments, such as extending holding periods to reduce taxes, may be more feasible.
The White House Bit summit is taking place amidst market uncertainty. The US trade war with other nations is more intense than ever.
On Monday, BTC dropped to $82,000 before recovering to current levels. Now, BTC is retesting $90,000, and there are speculations about preferential treatment for BTC in Trump's Bit reserve.
If the summit delivers positive news, it could reverse the downward trend. Conversely, selling pressure could persist, leading to further market declines.
Therefore, investors should be prepared for price volatility. This could be a "buy the rumor, sell the news" scenario, so avoid excessive leverage before the event. Consider your risk tolerance and investment goals.
