CRYPTO ERA DAWNED

 CRYPTO ERA DAWNED!!!

As you all know, when uncle Sam says, many things run in motion.

On friday at the White House, “crypto capital of the world”-the vision borne by Trump began its journey.

“High-IQ individuals around this table, high-IQ,” Trump said. “We feel like pioneers.”

Donald Trump at the 2024 Bitcoin Conference in Nashville. (Photo by Johnnie Izquierdo for The Washington Post via Getty Images) · The Washington Post via Getty Images

The round-table summit, having more than a dozen attendees. All major crypto entrepreneurs including Cameron and Tyler Winklevoss, the executive chair of MicroStrategy, founders of World Liberty Financial, CEO of Robinhood Markets, to mention but a few attended the meeting.

 “This is a very important day in your lives,” President Donald Trump told crypto executives at the White House when presiding over the first ever Crypto Summit on March 7.

in which he and other cabinet officials gathered some of the biggest names in crypto to reemphasize the President’s support for the industry and to hear out the executives’ ideas for regulation and legislation. Participants largely came away from the meeting empowered—and believing that a new crypto era has dawned in Washington.

“The government representatives expressed that there has been a negative regime towards the crypto industry, and that regime is now coming to an end,” says Sergey Nazarov, co-founder of Chainlink, who attended the summit. “There’s a significant shift and huge amounts of support.”

For the last few years, the crypto industry chafed at the enforcement actions brought against them by During President Joe Biden’s Administration. Biden’s Securities and Exchange Commission (SEC), led by Gary Gensler, sought to crack down on crypto companies he deemed were violating securities laws, and protect investors from the massive scams and frauds that are pervasive in the crypto world which resulted in lawsuits against companies big and small, including Terra-Luna, FTX, Coinbase, etc.

After Trump was elected, he appointed several cabinet members with close ties to the industry. Many enforcement actions, including the case against Coinbase, have since been dropped and the most pro-crypto commissioners of the SEC, most prominently Hester Peirce, were elevated-now leading SEC’s Crypto Task Force.

Trump himself led both a public press conference of the summit as well as a private conference with the executives. He asked Congress to pass bills on stable coins and a digital asset framework before the August recess, and, for some reason, allowed FIFA president Gianni Infantino to show off the soccer World Cup Trophy and pitch the idea of creating a FIFA meme coin. “That coin may be worth more than FIFA in the end,” Trump said in response.

President Donald Trump at a White House crypto summit on Friday, surrounded by members of his administration and crypto industry leaders. (Photo by Anna Moneymaker/Getty Images) 

After the summit, Trump’s Office of the Comptroller of the Currency (OCC) issued guidance allowing banks to hold cryptocurrency, and asking them to do their own diligence around risk giving another signal that Trump’s Administration will not regulate the industry very closely.

Trump’s pro-crypto stance was enough to lift digital assets higher in the period after his November election due to widespread optimism about a more favorable approach to the industry in Washington, D.C.