US President Donald Trump to Host White House Crypto Summit on March 7

The meeting will cover stablecoin regulation, Bitcoin policies, and crypto oversight in the US financial system.

The US President Donald Trump will host the White House Crypto Summit on March 7, bringing together crypto industry leaders and regulators for a meeting on stablecoin regulation, Bitcoin policies, and crypto oversight in the US financial system.

The event was announced by David Sacks, the White House Crypto and AI Czar, on March 1 via X post. It will be chaired by Sacks and administered by Bo Hines, the executive director of the President’s Working Group on Digital Assets. Attendees will include founders, CEOs, and investors from crypto firms, as well as government officials.

“The goal is to work on a legal framework so the crypto industry has the clarity it has been asking for and can thrive in the U.S.,”

Trump wrote when appointing Sacks as Crypto Czar on Dec․ 6, 2024.

The US government is increasing its focus on stablecoin regulation. The summit follows recent comments by Jeremy Allaire, co-founder of Circle, who argued that stablecoin issuers should register with US authorities.

Allaire stated that some stablecoin companies operate offshore but continue to serve US customers without following US regulations.

“Whether you are an offshore company or based in Hong Kong, if you want to offer your US dollar stablecoin in the US, you should need to register in the US just like we have to go register everywhere else,”

Allaire told Bloomberg.

US Representatives French Hill and Bryan Steil have introduced a bill to establish a regulatory framework for dollar-pegged stablecoins. David Sacks previously stated that stablecoins could extend the dominance of the US dollar internationally.

Several US states are considering Bitcoin reserves as part of their financial strategies. At least 24 states have introduced Bitcoin reserve bills, according to Bitcoinlaws data.

Texas has pushed for state-backed Bitcoin holdings, but Iliya Kalchev, a Nexo dispatch analyst, argues these efforts lack impact without a significant purchase plan.

Bitcoin has delivered an average return of 1,077% over the past five years, drawing attention from state legislators considering Bitcoin as a financial reserve. However, despite the interest, no state has yet passed a bill to mandate the purchase of Bitcoin for reserves.

The 2026 midterm elections are approaching, limiting time for Congress to pass crypto policies. According to Magic Eden's general counsel, Joe Doll, if Congress shifts control and the president's party retains the Senate, legislation will likely stall due to political gridlock. The March 7 summit may provide more insight into the White House's plans for crypto regulation.