Trump has declared his intention to be the first "crypto president," focusing on making the U.S. a global crypto capital. The recent executive order acknowledges the importance of bitcoin's fixed supply and suggests that early adoption of a national bitcoin reserve could yield strategic advantages. During a White House summit attended by crypto leaders, attendees expressed gratitude for the administration's leadership. In a significant move, the Office of the Comptroller of the Currency has loosened restrictions on banks engaging in crypto activities, as part of broader efforts to enhance U.S. competitiveness in the crypto space.
"The U.S. won the internet, and the U.S. should win crypto. So thank you for your leadership on this," Tyler Winklevoss, a co-founder of the crypto exchange Gemini, said at the summit.
The president told his guests at the end of the meeting: "This is a very important day in your lives. I know you worked some of you very long, long before people really understood what was happening. And so I congratulate you.
The executive order acknowledges bitcoin's "fixed supply" and maintains "there is a strategic advantage to being among the first nations to create a strategic bitcoin reserve."
As the summit ended, the administration took a material step to roll back what's been referred to as Operation Chokepoint 2.0, with the Office of the Comptroller of the Currency ending the requirement that its banks seek permission to engage in common crypto activities.
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