What is there to look forward to at the White House Crypto Summit and what impact will it have on the crypto industry?

The White House Crypto Summit plans to include mainstream cryptocurrencies such as Bitcoin and Ethereum into the national reserve system, similar to traditional oil reserves. Forbes disclosed that various currencies were selected due to their characteristics, such as Bitcoin’s anti-inflation, Ethereum’s smart contract ecosystem, etc. This plan's scale and functional positioning will give new strategic significance to crypto assets and affect the market structure.

The summit focused on the stablecoins and the overall regulatory framework. Trump advisers advocate strengthening the hegemony of the dollar by borrowing stablecoins may affect federal regulation. The draft House bill shows that stablecoin institutions with an issuance of over 10 billion US dollars may be included in the Federal Reserve's supervision to form a two-layer structure. The 21st Century Financial Innovation and Technology Act may also usher in progress to coordinate regulatory responsibilities.

In order to achieve the goal of "Crypto Capital", the summit may promote innovative incentive policies. Regulatory restrictions during the Biden period may be relaxed to attract more innovative projects and talents. Tax reforms may also be put on the agenda, or simplify transaction tax reports, or even provide tax incentives to stimulate industry investment and development and reduce the burden on crypto companies.

Many well-known founders, CEOs and investors in the crypto industry were invited to attend the conference. They will communicate with members of the President’s Digital Assets Working Group to share industry experience and insights. The participation of industry leaders can provide practical reference for policy formulation, promote communication between the government and the industry, and promote the healthy and orderly development of the crypto industry.

Trump signed an executive order for Bitcoin strategic reserves, which triggered a price plunge and rebounded. The reserve funds are capitalized by confiscating Bitcoin and "only hoarding but not buying". This strategy affects market expectations, and the executive order has not been approved by Congress, which has triggered sentiment by trader Sell The News when it is necessary to take effect.

Many states in the United States actively respond to Bitcoin strategic reserves. The Texas Business and Commerce Commission has reviewed and passed the bill, and the Senate has also passed the SB-21 bill. The content of the bill covers authorizing the government to hold Bitcoin, audit management, etc. The subsequent review will be required by the House of Representatives and will be submitted to the governor for signature if approved.

Nearly 50% of the approximately 200,000 Bitcoins held by the U.S. government come from the Bitfinex case. The government has suggested that Bitfinex may be the only victim, proposing a return of Bitcoin. However, former customers believe that compensation should be received. After the news came out, Bitfinex platform token LEO rose. Now that the executive order is signed, the government's position may change.

The executive order establishes a "US Digital Asset Reserve" to manage government digital assets under the leadership of the Treasury Department. Its management model and operating mechanism have attracted much attention, which will affect the security and value-added of government digital assets and also affect the confidence of the crypto industry in government management.

Bitcoin prices fluctuated violently after the executive order was issued, reflecting the market's complex response to policies. Other mainstream cryptocurrencies are also affected by summit expectations and their prices fluctuate. Market fluctuations test investor confidence and also highlight the importance of summit policy orientation to market stability.

Trump's attitude towards the crypto industry changed since taking office, which contrasts with the Biden administration's strict regulation. The summit will clarify the future regulatory direction. If a clear regulatory framework can be provided, it will promote innovation and development; on the contrary, regulatory uncertainty will continue to plague the industry.

As a global economic power, the decision to the White House crypto summit will have an international impact. Other countries may adjust their own supervision by referring to US policies, affecting the global crypto industry structure and promoting international crypto policy coordination and cooperation.

The summit may also focus on crypto technology innovations, such as blockchain performance improvements and security enhancements. Technological innovation is the core driving force for the development of the industry. Government support will accelerate technological breakthroughs, expand cryptocurrency application scenarios, and enhance industry competitiveness.

While promoting innovation, investor protection is also an important topic at the summit. How to balance innovation and risks, prevent illegal activities such as fraud and money laundering, and protect the legitimate rights and interests of investors will be the focus of policy formulation and affect the public's trust in the crypto industry.

The White House Crypto Summit brings many expectations to the crypto industry, from reserve plans to regulatory policies, from innovation incentives to international influence. Reasonable policies will push the industry into a new stage, attract more investment and talents, and achieve dual breakthroughs in technology and application.