President Trump hosted cryptocurrency executives at the White House on Wednesday, one day after U.S. financial regulators unveiled crypto regulations.
Mr. Trump said digital currencies are critical to the U.S. maintaining its economic dominance, warning that if America doesn’t innovate, it could lose out to China and other countries investing in the cryptocurrency market.
“We’re focused on creating a clear regulatory framework for pioneers and builders like the people that are here with me so that they can do business with confidence on American soil,” the president said. “They don’t have to go to other countries to do their business. We’re ensuring that America remains the undisputed leader.”
Several prominent crypto executives and industry trade group representatives attended the event. Among those confirmed to be in attendance included Ripple CEO Brad Garlinghouse, Coinbase CEO Brian Armstrong, Intercontinental Exchange CEO Jeff Sprecher, Robinhood CEO Vlad Tenev and Karken CEO Arjun Sethi.
Securities and Exchange Commission Chairman Paul Atkins also attended the event.
The meeting follows the SEC’s Tuesday night announcement of long-awaited industry regulations. Under the new rules, it will be easier for crypto companies to issue tokens and raise money.
The SEC also issued new exemptions for digital asset projects, including a one-time startup exemption that would let crypto projects raise up to $5 million during four years and up to $75 million during each 12-month period as part of the fundraising exemption.
In a statement, the SEC declared the new rules will “provide clarity for crypto markets.”
It also comes ahead of the first meeting for the Commodity Futures Trading Commission’s Innovation Advisory Committee, which guides the agency on digital assets, artificial intelligence and prediction markets.
Mr. Trump has personally benefited from the crypto market, making more than $1 billion from the nascent industry since returning to office last year. His crypto earnings include more than $635 million from a $TRUMP meme coin licensing agreement and $236 million from selling WLFI tokens through World Liberty Financial, a crypto currency company founded in 2024 by Mr. Trump and Steve Witkoff (now a White House special envoy) and their sons.
The president has insisted that he has no day-to-day role in his family’s business and that his investments are independently managed. The White House has denied any allegations of impropriety.
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