US Doubles Down on Crypto at Historic White House Summit

CN
20 hours ago

The U.S. government demonstrated a stronger commitment to the cryptocurrency industry during a high-profile summit at the White House, where top officials and industry leaders gathered to discuss the future of blockchain technology in the financial system. On social media platform X, Chainlink co-founder Sergey Nazarov, who attended the event, described it as a historic moment for crypto, given the presence of key figures such as Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and President Donald Trump.

“It was a great event that had some of the top leaders in our industry in attendance, all of whom got the chance to share their views on the crypto reserve, regulation, legislation, and the overall strategy for how our industry will be able to evolve in the United States financial system,” he shared on March 7, emphasizing the significance of the U.S. financial system’s global influence. He opined:

Since the U.S. financial system is the world’s leading financial system and many other financial systems follow its lead, this was a truly historic day for our industry.

The event also featured key lawmakers, including Majority Whip Tom Emmer and Digital Asset Subcommittee Chair Bryan Steil, signaling growing legislative support for integrating blockchain into the financial sector.

Nazarov stressed the importance of this bipartisan cooperation, stating: “The executive branch and legislative branch working together to get our industry adopted by the US financial system is very important.” He added: “It has become clear to me that the large macroeconomic effects of our industry on the US financial system makes it not only a bipartisan issue but possibly even a nonpartisan issue that is obviously in both parties’ interests because it is clearly in the US’s overall interests.” According to Nazarov, this level of collaboration is accelerating efforts to introduce new laws and regulations that support the industry’s expansion.”

The Chainlink co-founder also praised members of the Trump administration, particularly White House AI and Crypto Czar David Sacks and Bo Hines, Executive Director of the President’s Council of Advisers on Digital Assets, for their dedication to advancing cryptocurrency policy. He said:

They are helping bring together the most senior members of the U.S. government to reorient the US financial system towards our industry’s technologies as the future.

He highlighted Trump’s direct support for the industry, citing the president’s statement: “I thought it was very important that we stay in the front of this one. This is a big one.” The summit reinforced the growing role of cryptocurrency in shaping the future of the U.S. economy, with both policymakers and industry leaders working to establish a regulatory framework that fosters innovation and adoption.

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