Blockchain Projects Meet White House Officials
Bo Hines, who works under Crypto Czar David Sacks, invited leaders from:
- Ripple
- Chia
- Near
- Filecoin
- IOHK
- Avalanche
- Aptos
- Movement
- Mysten
During the meeting, participants shared their frustrations with current crypto laws. They argued that the tax code is too complex. They urged the government to simplify it. This change, they said, would make buying and selling tokens easier for both businesses and investors.
The group also proposed shifting the regulatory burden from developers and token holders to crypto exchanges. They argued that exchanges are the central hubs where trading happens. Additionally, they called for clearer rules to support the fast-growing digital asset market.
Trump’s Crypto Working Group and Next Steps
The meeting follows President Trump’s executive order to create a “crypto working group” under the National Economic Council. David Sacks, the new AI and crypto czar, leads this group. The task force aims to reform digital asset policies by working with multiple regulators.
The group faces tight deadlines:
- 30 days: Identify all existing rules affecting the crypto industry.
- 60 days: Recommend repeals, modifications, or new policies.
- 6 months: Draft new rules covering digital assets, including stablecoins.
Key Provisions of Trump’s Executive Order
The executive order outlines several key goals:
The meeting highlights the growing urgency for a modern crypto policy. Blockchain leaders hope their input will help shape fair and clear regulations. The next few months will be critical as the crypto working group drafts its proposals.
