US President Donald Trump will host his first White House Script Summit on March 7th to bring together industry leaders to discuss regulatory policies, stable surveillance, and the potential role of Bitcoin in the US financial system.
According to an announcement from the White House “AI and Crypto Czar,” attendees include “prominent founders, CEOs and investors of the Crypto industry” along with members of the President’s working group on digital assets, along with “prominent founders, CEOs and investors,” according to an announcement shared by David Sacks on the X-Post on March 1.
The summit will be managed by Bohines, the Sack chair and executive director of the working group.
Source: David Sacks
Sachs was appointed White House Script, AI and Emperor on December 6, 2024, and “just addressing a legal framework, the crypto industry can thrive in the United States with the clarity it has sought,” Trump wrote in the announcement.
Part of the role of Sachs is to “protect” online speeches and “steer us away from major technical bias and censorship.”
Source: Donald Trump
Trump previously showed that he intends to make crypto policy a national priority and make the United States a global hub for blockchain innovation. Future summits could set a crypto-regulation tone over the next four years.
Sacks will only have two years to promote Pro-Crypto’s policy before the 2026 midterm elections in the US. Joe Doll, an advisor to NFT Marketplace Magic Eden, told Cointelegraph in an interview.
According to the dolls, the threat of a sluggish government can curb regulations, and the current administration must promote pro-cryptic policies while controlling both parliamentary rooms.
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Stablecoin, Bitcoin Reserve Regulations continue to focus
Although there are no additional details on the summit agenda, steady regulations and laws related to potential strategic bitcoin (BTC) reserves are at the forefront of regulatory debate in the United States.
The White House announcement comes days after Jeremy Allaire, co-founder of the circle behind the world’s second largest Stablecoin, said they should need Stablecoin publishers from around the world to register with US authorities.
Citing consumer protection, Allerle argues that US dollar-based Stablecoin publishers should not get a “free pass,” allowing them to “ignor United States law, do whatever they want anywhere and sell to the United States.” Allerle told Bloomberg:
“If you want to provide US dollar Stablecoin in the US, whether you’re an offshore company or based in Hong Kong, you’ll need to register in the US just as you would have to register elsewhere.”
Future summits can shed more light on future Stablecoin laws, considering Sacks has previously said that Stablecoins could “extend the dominance of the dollar internationally.”
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Interest in the US-based strategic Bitcoin reserve is also growing. So far, at least 24 states have introduced laws related to potential Bitcoin reserves, Bitcoinlaws data shows.
A US state with the proposition of the Bitcoin Reserve Bill. Source: Bitcoinlaws
However, state-level Bitcoin Reserve Initiatives may not represent a pivotal moment for Bitcoin. According to Nexo’s dispatch analyst Iliya Kalchev, they are just “symbolic moves” unless significant purchases are announced.
“Unless the hearing reveals short-term purchase plans or major policy changes, the market response is likely to be milder as Texas’ pro-crypto attitude is already well known,” Karchev told Cointelegraph.
Bitcoin has averaged over 1,077% returns over the past five years, indicating the favorable potential of its long-term holding strategy.
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