- Trump’s summit will discuss digital asset regulations and industry growth.
- Bill Hughes highlights ongoing efforts shaping a successful crypto environment.
- SEC’s crypto task force aims to revise overreaching regulations on DeFi.
President Donald Trump will host the first-ever White House Crypto Summit on March 7, 2025, to discuss digital asset regulations and stimulate growth in the cryptocurrency industry.
David Sacks, the White House’s AI and Crypto Czar, will lead the event. This summit follows a January executive order tasking a working group to establish U.S. leadership in cryptocurrency innovation.
Summit Part of Broader Crypto Policy Push
Opening up about the same, Bill Hughes, Senior Counsel at ConsenSys, said that while the summit is getting a lot of attention, it’s one element of a larger, ongoing initiative. Significant policy work underway is expected to be the primary driver of change, creating a favorable climate for crypto market expansion.
In an interview with Thinking Crypto, he said, “My understanding is that there may even be another executive order that will be coming out. But at the end of the day, the most important thing is that this policy work is happening very broadly throughout the administration.”
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Several figures from the cryptocurrency world are confirmed to attend President Trump’s White House Crypto Summit. Attendees include Brad Garlinghouse, CEO of Ripple; Michael Saylor, Founder of MicroStrategy; David Bailey, CEO of Bitcoin Magazine; Matt Huang, Co-founder of Paradigm; JP Richardson, CEO of Exodus and Kyle Samani, Managing Partner at Multicoin Capital among others.
SEC’s Changing Stance
Bill Hughes also addressed Gary Gensler’s leadership at the SEC. Gensler’s tenure has been characterized by controversy and criticism, notably concerning his approach to cryptocurrency regulation.
Although the SEC under Gensler has been perceived by many as overly assertive in its regulatory approach, a shift in focus appears underway with the new crypto task force.
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Hughes indicated that the crypto task force is commencing dialogue with the industry. Starting this month, the task force will host roundtable discussions allowing crypto projects to share insights and concerns.
He also mentioned that his team submitted a proposal to the SEC seeking a review of a rule implemented under Gensler’s leadership. These ongoing discussions will likely center on ensuring securities laws do not impede innovation, providing the industry a clearer path forward while maintaining necessary regulatory oversight.
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