President Donald Trump is set to reveal a significant change in cryptocurrency policy this week

The focus of the strategic reserve will be Bitcoin, while other cryptocurrencies will receive different treatment

President Donald Trump is set to reveal a significant change in cryptocurrency policy this week, with plans to establish a Bitcoin (BTC/USD) strategic reserve and place a focused spotlight on the stellar token in a new policy framework, according to administration officials cited by The Pavlovic Today.

The focus of the strategic reserve will be Bitcoin, while other cryptocurrencies will receive different treatment, and the administration is charting a course to manage these different digital currencies, the report notes.

The initiative was hinted at by Commerce Secretary Howard Lutnick in a conversation with Ksenija Pavlovic McAteer of The Pavlovic Today, ahead of the inaugural White House crypto summit set for Friday. Lutnick touched upon Trump's vision for Bitcoin and broader cryptocurrency regulation.

"We're going to do a strategic Bitcoin reserve," Lutnick stated, referring to a plan that President Trump has spoken about, particularly during his campaign, and which is now progressing.

"President Trump is planning to announce the administration's new policy on Friday," Lutnick added, confirming the rumors of a Bitcoin strategic reserve. He posed a question regarding the handling of other cryptocurrencies or crypto tokens.

"How will the administration manage the model for coins other than Bitcoin, which will be viewed in a positive light?" Lutnick further inquired, hinting at the administration's differential approach to various cryptocurrencies.

This new policy framework, which is expected to be unveiled on Friday at the White House crypto summit, marks a departure from the administration's previous stance on cryptocurrencies.

The Friday summit is expected to bring together key figures from the administration, industry leaders, and members of Congress to discuss the future of cryptocurrencies in the U.S. Among the confirmed participants are Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, and cryptocurrency exchange executives. The aim of the summit is to coordinate efforts and develop a comprehensive strategy for regulating and harnessing the potential of the rapidly evolving digital asset industry. As the administration prepares for the Friday gathering, Mnuchin has penned an opinion article for The Wall Street Journal, highlighting the need for the U.S. to take a leadership role in shaping the future of cryptocurrencies and blockchain technology. In his article, Mnuchin emphasizes the importance of the U.S. setting the standard for cross-border cooperation and coordinating efforts with other nations to regulate cryptocurrencies effectively. He also touches upon the administration's initiative to launch a research project focused on the potential applications of blockchain technology in enhancing government services and operations. Mnuchin's contribution underscores the administration's multifaceted approach to cryptocurrencies, encompassing both direct investment in Bitcoin and broader efforts to explore and integrate blockchain technology into the U.S. economic and governmental landscape.