U.S. President Donald Trump vowed to lend policy support to the cryptocurrency industry and other digital assets at a Friday meeting at the White House.
At the Digital Assets Summit, the first of its kind, Trump expressed his strong support for industry-friendly legislation and flexible regulation.
He bashed relevant regulatory policies implemented during the previous administration and emphasized the ongoing efforts to “end the federal bureaucracies’ war on crypto.”
The meeting was held one day after Trump signed an executive order to build a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.
The U.S. federal government holds as many as 200,000 bitcoin, said Trump at the meeting.
The Treasury and Commerce departments will also “explore new pathways to accumulate additional bitcoin holdings for the reserve, provided it’s done at no cost to the taxpayers,” he added.
Trump promised to make America a “bitcoin superpower of the world” during his campaign trail.
His moves to support the crypto industry have sparked concerns of conflict of interest as the president himself holds a stake in a crypto platform.
