3 months ago
US Commerce Secretary Howard Lutnick has confirmed that the Trump medication volition unveil plans for a strategical Bitcoin reserve astatine its upcoming White House crypto acme connected March 7.
In an interrogation with The Pavlovic Today, Lutnick clarified that Bitcoin (BTC) volition apt person a peculiar presumption successful the country’s nationalist cryptocurrency reserve, which volition see Ether (ETH), Solana (SOL), Cardano (ADA) and XRP (XRP).
“The president decidedly thinks that there’s a Bitcoin strategical reserve,” Secretary Lutnick said. “Now, determination volition beryllium the question of, however bash we grip the different cryptocurrencies. And I deliberation the exemplary is going to beryllium announced connected Friday erstwhile we bash that.”
President Trump has faced disapproval since announcing connected societal media that the country’s crypto reserve would see assets different than Bitcoin. Critics accidental centralized altcoins should not beryllium included alongside Bitcoin, which is the lone decentralized commodity that tin beryllium utilized arsenic a semipermanent store of wealth.
Source: Anthony Pompliano
Even notorious Bitcoin hater Peter Schiff, who refused to put successful the integer plus erstwhile it was valued astatine little than $100, said helium understands the rationale down a BTC-only reserve but not 1 that includes altcoins.
Source: Peter Schiff
In response, Secretary Lutnick reiterated Trump’s involvement successful a Bitcoin-only stockpile without dismissing the different assets successful the projected basket.
“So Bitcoin is 1 thing, and past the different currencies, the different crypto tokens, I think, volition beryllium treated otherwise — positively, but differently,” said Lutnick.
Related: As Trump tanks Bitcoin, PMI offers a roadmap of what comes next
White House crypto acme gains traction
President Trump is scheduled to clasp the first-ever White House crypto acme connected March 7, wherever up to 25 participants person been confirmed truthful far. The invitation database includes Strategy laminitis Michael Saylor, Chainlink co-founder Sergey Nazarov and Coinbase CEO Brian Armstrong.
Source: Eleanor Terrett
The acme reflects the US government’s historic pivot toward integer assets nether President Trump, who vowed to marque America the blockchain and crypto superior of the satellite during the election.
Under Trump, the Securities and Exchange Commission has established a Crypto Task Force to carve retired a “sensible regulatory path” for the sector. The task unit has already met with respective manufacture representatives to amended recognize their regulatory symptom points.
Meanwhile, the House Subcommittee connected Digital Assets, Financial Technology and Artificial Intelligence has engaged with manufacture experts connected a scope of issues from stablecoin regulations to which bureau should beryllium fixed spot marketplace authorization implicit crypto.
Related: Trump’s crypto ventures rise struggle of interest, insider trading questions
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