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President Donald Trump hosted the first White House Digital Asset Summit, reaffirming his commitment to Bitcoin. He emphasized the Strategic Bitcoin Reserve and vowed the U.S. would "never sell its Bitcoin." Treasury Secretary Scott Bessent announced plans to rescind restrictive crypto tax guidance and promote USD-backed stablecoins to maintain dollar dominance. Commerce Secretary Howard Lutnick and Bessent were tasked with exploring new Bitcoin acquisition strategies without taxpayer costs. The roundtable included major crypto leaders like Michael Saylor, Brian Armstrong, and Sergey Nazarov, who praised the administration’s pro-crypto stance

Texas just changed the game! The Texas Senate has passed SB 21, creating the Texas Bitcoin Reserve—the first state-run crypto fund in U.S. history! 🇺🇸 Lt. Gov. Dan Patrick calls it a huge step, aligning with President Trump’s vision to make the U.S. the global crypto leader. Texas is leading the charge! The reserve will hold BTC and other top cryptos, with a $500B+ market cap threshold. A new advisory committee will oversee its growth. This isn’t just a state move—this is national crypto policy taking shape! With bipartisan support and strong leadership, Texas is setting the standard for every state. Will others follow? Or will Texas become the sole crypto powerhouse? Are we about to witness the birth of America’s bitcoin capital? 🚀

Under President Donald Trump, the US government is working toward establishing clear regulations for the crypto industry. At a Friday meeting with crypto industry executives at the White House, Trump announced that he has asked Congress to pass crypto legislation before the August recess. Coinbase CEO Brian Armstrong considers the development historic. He cites two key achievements from the recent summit at the White House: clearer regulatory clarity and the establishment of a Strategic Bitcoin Reserve in the US. Armstrong noted that the development translates to economic growth in the United States, and his company will hire about 1,000 employees due to the renewed growth. Related: US Congress Targets Crypto Bill by 2025: Pro-Crypto Senator Cynthia Lummis Drives Senate Agenda Based on the summit’s outcome, renowned crypto lawyer John Deaton noted that the US crypto industry is about to enter a new era. In his latest post on X, Deaton highlighted that the US plans to establish stablecoin legislation as part of a regulatory restructuring that will introduce significant changes in the crypto industry. In the meantime, Deaton noted that the US government will introduce a new market structure to replace the 1930 statutes and 1946 case law as they apply to modern blockchain and AI technologies. Furthermore, there would be centralized exchange oversight, preventing the commingling of customer funds. That would protect centralized exchange users in case of bankruptcy. Deaton expects the new regulatory structure to include a tax policy reform for the crypto industry and also deliver an accredited investor rule reform. Overall, the famous crypto lawyer thinks the latest move by Trump is a step in the right direction for the crypto industry in America. Highlighting the latest steps by the authorities, another renowned crypto lawyer, Jeremy Hogan, noted that the US Office of the Comptroller released an interpretive letter explicitly allowing banks to use distributed ledgers and stablecoins for banking activities. Related: 27 US States Introduce Bitcoin and Crypto Bills Amid Growing Institutional Interest According to a section of the letter, a bank may validate, store, and record payment transactions by serving as a node on an INVN. Likewise, a bank may use INVNs and related stablecoins to facilitate other permissible payment activities. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

On March 7, 2025, the White House hosted its first-ever crypto summit, with President Donald Trump zeroing in on “ Operation Chokepoint 2.0 ” and its impact on the crypto industry. Trump announced a major policy change aimed at dismantling this initiative and fostering a more positive environment for crypto businesses. Trump condemned this practice, asserting that it had wrongfully misused the banking system against the industry. His administration now seeks to create a more positive environment for crypto businesses, promising regulatory clarity moving forward. Related: Donald Trump Makes It Official: Strategic Bitcoin Reserve, Altcoin Stockpile Is Law Coinciding with his pledge to dismantle “Operation Chokepoint 2.0,” President Trump also unveiled a strategic Bitcoin reserve initiative. This reserve, funded by using seized Bitcoins, is intended to position the U.S. as a major player in the crypto space. David Sacks, the President’s crypto czar, confirmed on social media that the U.S. government holds around 200,000 Bitcoins, currently valued at over $17 billion. He emphasized that once these Bitcoins are placed in the reserve, they will remain untouched, serving as a store of value similar to the U.S. gold reserves. Looking ahead, Trump’s government plans to create a general crypto stockpile, which may include other digital assets such as Ethereum, XRP, and Solana. Moreover, he reiterated the need for clear stablecoin regulations, aiming for legislation before Congress’s summer recess. Related: US Crypto Czar Mulls Bitcoin Reserve; Price Faces Key Technical Test Trump noted that clear regulations will create continued growth and innovation in the financial sector solidifying the U.S. leadership in the crypto market. However, his immediate focus at the summit was undeniably on reversing “Operation Chokepoint 2.0” and its chilling effect on crypto banking. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Sam Bankman-Fried, the former CEO of FTX, has been placed in solitary confinement after giving an unauthorized interview with Tucker Carlson. The interview, which was done without the approval of the US Bureau of Prisons, was shared on March 7, leading to controversy. The Bureau confirmed that the interview had not been authorized, resulting in Bankman-Fried’s isolation. This move has brought renewed attention to his case and the ongoing discussions about his possible release. During the interview , Bankman-Fried opened up about his experience in prison and discussed his views on crypto regulation in the United States. He claimed that he did not see himself as a criminal, even though his conviction was for defrauding investors and customers in the collapse of FTX. Related: Bankman-Fried Seeks Trump Pardon, LayerZero Settles with FTX Estate While Carlson did not ask directly about a possible pardon from U.S. President Donald Trump, Bankman-Fried’s comments have led to increased speculation about his chances for clemency. Since the interview aired, data from Polymarket shows that the probability of a pardon has nearly doubled, with a current 4% chance of a pardon within the first 100 days of Trump’s presidency. Bankman-Fried’s family, including his parents, law professors Joe Bankman and Barbara Fried, are reportedly consulting with a lawyer linked to Trump’s 2016 and 2020 campaigns. Though they have not reached out to Trump directly, sources indicate that they are working on utilizing his transactional approach to clemency to secure a pardon for their son. The efforts to secure a pardon are similar to previous actions by Trump, like his full pardon of Ross Ulbricht, the creator of the Silk Road, in January 2021. Related: Sam Bankman-Fried Appeals Fraud Conviction, Seeks New Trial Ulbricht had served 12 years of his sentence for his role in running the infamous darknet marketplace. Separately, Bankman-Fried’s legal team is continuing its appeal process. In September 2024, they filed a 102-page brief challenging his conviction on seven felony counts, claiming that the scrutiny around his case affected the fairness of his trial. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.