US President Donald Trump met with various founders and encryption leaders during the recent White House encryption dome. The event led us to legislators under the same roof with the cryptographic industry for the first time. At the summit, President Trump forcibly asked the US Securities Commission (SEC) forcyrography to place the country’s encryption and stables regulations “on his table” by the end of August this year. This is forcibly for approximately five months to complete the research work and proposal for encryption rules.
Chris Dixon, a managing partner of the investment firm focused on the Web3 A16Z Crypto, said Trump’s timeline for an encryption regulatory structure was the most important announcement during the summit.
Praising Trump’s proactive regulatory approach, Dixon he said“With accelerated progress in encryption, IA and other border domains, this is the time to elaborate comprehensive and thoughtful policies that recognize both the promise and the risks of these technologies.”
White House Cryptography Sacks David and Secretary of Treasury Scott Bessent co-pressured The summit next to Trump. Addressing to guests, Bessent said the US intends to keep the dollar as the dominant reserve currency in the world, for which it intends to use the stables.
In another noteworthy development, the US bank regulator said banks were allowed to engage in selected encryption services, nullifying years of restrictions. US Controllers Office (OCC) second It allowed banks to explore the custody of cryptographic assets, blockchain participation and the exploration of stable use cases.
Sergey Nazarov, co-founder of Chainlink, was among the participants of the event in Washington DC. “Having the most senior members of the cabinet covering these topics, says a lot about the new US commitment to cryptocurrencies, blockchains and their own evolution as a financial system,” he said in a post about X. Nazarov added that the Trump government has granted cooperation with the sector.
Due to the regulatory development, Coinbase CEO Brian Armstrong he said He was scheduled to open a thousand web3 job opportunities this year. After the summit, Armstrong posted a video about X saying coinbase planned to hire about 1,000 employees in the US in 2025 as a result of “renewed growth.”
Before the encryption summit, Trump ordered the creation of a Bitcoin strategic reserve as well as a US encryption stock. His executive order said Bitcoin and Altcoins seized by federal agencies during investigations will be placed in these reserves as long -term appearances.
Despite the success of Trump’s encryption dome, the market continued bleed on Monday. While Bitcoin was being negotiated at US $ 82,680 (approximately RS. 72 lakh) in international exchanges, the encryption industry assessment retreated to US $ 2.7 trillion (approximately RS. 2.35.48.050 crores) in the last 24 hours.
Market analysts believe that in the coming days, with more regulatory development, the digital asset sector will gradually play new maximums. Meanwhile, the market remains extremely volatile and investors were instructed to exercise caution in their decisions.