The White House confirmed that the March 7 crypto summit held by President Donald Trump will not center on taxes, as had been speculated by many. The summit will rather be a time when crypto industry leaders can input their opinions on regulations.
Trump’s Plan to Roll Back Anti-Crypto Policies
The summit aims to collect feedback to inform a more crypto-friendly policy, away from the anti-crypto stance of the last administration. A White House senior official clarified that the summit is intended to assist in bettering the relationship between the government and the crypto sector.
Bitcoin to Be Treated as ‘Digital Gold’
Among the top highlights is that Bitcoin would be considered a special asset. The White House official confirmed Bitcoin would be maintained by the government for the long term as a Bitcoin reserve. This is as per an executive order by Trump to create a Bitcoin stockpile.
This step is also aimed at learning from past errors, in which Bitcoin was sold at the incorrect moments, possibly costing the government billions of dollars. The reserve will be free to taxpayers since authorities are seeking ways of contributing to the Bitcoin reserves without drawing from public funds.
US President Donald Trump’s crypto summit at the White House highlighted strategies for a Bitcoin reserve with the aim to use seized digital assets to create the reserve rather than pass on the burden to taxpayers.
— Outlook Money (@theoutlookmoney) March 8, 2025
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A Step Towards a Crypto-Friendly Future?
The summit is part of a larger movement to accept cryptocurrency and make sure it is a part of the future of the US economy. Although it is not centered around taxes, this might be a significant move towards more support for the crypto industry in the US.
