Trump to Host Crypto Industry Executives at the White House
Key Takeaways
- •President Trump will meet executives from the cryptocurrency and prediction market sectors at the White House on Wednesday to discuss regulation.
- •Reported attendees include executives from Coinbase, Payward, the parent company of Kraken, and Blockchain.com, while prediction market participants have not been named.
- •The Clarity Act, a crypto market structure bill already passed by the House, will face a vote in September after lawmakers failed to approve it before the August recess.
- •The Securities and Exchange Commission proposed its own framework for crypto asset offerings on Tuesday, moving ahead while the legislation stalls.
- •Trump has reported over $1.4 billion in income from his family's crypto ventures, and some Democrats have criticized alleged conflicts of interest that the president and the White House deny.
U.S. President Donald Trump is set to host leading figures from the cryptocurrency industry at the White House on Wednesday.
The meeting — first reported last week by POLITICO — will bring together executives from the prediction market and digital asset sectors to discuss regulation, at a moment when both industries are watching how federal policy is taking shape.
According to reports, some of the big names due to attend include executives from Coinbase, Payward — the parent company of Kraken — and Blockchain.com. It has not been reported which prediction market executives will be at the meeting.
The gathering comes as the long-awaited crypto market structure bill, the Clarity Act, remains delayed, although regulators are pressing ahead with their own digital asset initiatives. On Tuesday, the Securities and Exchange Commission proposed its own framework for crypto asset offerings, pressing ahead while the landmark legislation stalls. That split between congressional action and agency rulemaking has left the policy debate active even before lawmakers return from recess.
Pro-crypto lawmakers had hoped the Clarity Act would pass before Congress departed for its August recess. A vote will now go ahead in September. Lawmakers started mulling over a new draft of the bill — which was passed by the House of Representatives last year — in July. That text tackled the issue of ethics, banning government officials from promoting or making money from crypto.
Some Democrats have criticized the president for alleged conflicts of interest, as the Trump family has made money from crypto ventures. President Trump and the White House have always denied any wrongdoing.
Trump campaigned on a ticket to help America become the crypto capital of the world and received backing from major players in the space. Since taking office, the president has passed a number of pro-crypto pieces of legislation. High-profile lawsuits against crypto companies have also been scrapped, and the SEC has taken a more friendly approach to watchdogging the space.
President Trump has reported over $1.4 billion in income from his family's cryptocurrency ventures.
This article first appeared on Bitcoin Magazine and was written by Mathew Di Salvo.
