The U.S. Government Held Its First Official Press Conference Focused on Bitcoin and Digital Assets

The event outlined the administration's approach to digital asset regulation and policy, highlighting plans for a clear regulatory framework.

The U.S. government held its first official press conference dedicated to Bitcoin and digital assets on Wednesday, led by Trump administration’s ‘Crypto Czar’ David Sacks and several lawmakers.

The event outlined the administration’s approach to digital asset regulation and policy, highlighting plans for a clear regulatory framework.

Sacks referenced a recent executive order from President Trump, stating that the administration aims to support the responsible expansion of blockchain and digital assets.

The order also established a federal working group to develop regulatory guidelines, including stablecoin oversight, he noted.

Regulatory Clarity and Industry Oversight

Sacks highlighted the need for clear regulations, given feedback from industry participants who have expressed concerns about regulatory uncertainty.

He also discussed collaboration with congressional leaders, including Senator Tim Scott (R-SC), Congressman French Hill (R-AR), Senator John Boozman (R-AR), and Congressman G.T. Thompson (R-PA), to advance policies that provide certainty for the industry.

Senator Boozman pointed out that digital assets require different forms of oversight, with some being classified as commodities and others as securities, hence the need for tailored regulatory approaches.

Congressman Hill emphasized the importance of ensuring the U.S. remains competitive in financial technology.

“Our innovators need clarity. They need to know what the rules of the road are,” he said. To achieve this, a joint working group from key congressional committees will work on shaping policy.

Legislative Efforts and Regulatory Discussions

During the Q&A session, Senator Scott highlighted bipartisan efforts on digital asset legislation, mentioning the ongoing work by Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand on a market structure bill.

When asked about Anti-Money Laundering (AML) regulations, Scott said he was open to reviewing policies.

“I think that the broader conversation should not be about digital assets alone,” he stated. “It’s about bad actors doing bad things by any means necessary.”

Congressman Hill added that AML regulations should be applied consistently across financial sectors, including digital assets.

Educating Lawmakers on Digital Assets

Congressman Thompson emphasized the need for more education on digital assets among lawmakers, given that it is a relatively new subject for many in Congress.

“Member education is what our first goal is here,” he said. Congressman Hill concurred, stating that lawmakers require technical guidance to make informed policy decisions.

Sacks echoed this sentiment, stating that the administration would work to provide educational resources with input from industry experts.

Evaluating a U.S. Bitcoin Reserve

Sacks concluded the event by confirming that the administration is exploring the possibility of a Strategic Bitcoin Reserve.

“One of the things that the President instructed us to do was to evaluate the idea for a Bitcoin reserve,” he said, adding that this initiative would be among the administration’s early priorities.

U.S. President Trump’s Crypto Czar @DavidSacks says, “The first thing the President instructed us to do was explore a Strategic Bitcoin Reserve” pic.twitter.com/GlzmrfM0H1

The press conference signaled a shift in Bitcoin and digital asset policy, with officials focusing on regulatory clarity, industry competitiveness, and legislative efforts.