Key Takeaways
- Trump said his administration ended the “war on crypto.”
- Officials have discussed acquiring more bitcoin, Trump said.
- Industry executives urged senators to advance the CLARITY Act.
Trump Says His Administration Ended the War on Crypto
President Donald Trump convened executives from cryptocurrency platforms and traditional financial institutions on Aug. 19, placing digital asset regulation within his administration’s economic agenda. The full White House crypto meeting video shows Trump receiving policy recommendations from industry leaders and federal regulators.
Describing the participants as leading figures in finance, cryptocurrency, and technology, the president said they were helping develop commercial markets in the United States. The planned White House crypto gathering included leaders from Coinbase, Ripple, Robinhood, Kraken, Nasdaq, Intercontinental Exchange, and Chainlink.
Criticizing the Biden administration’s approach, the president accused it of targeting cryptocurrency companies through regulations, restrictions, and enforcement actions that pushed innovation overseas. Referring to his administration’s subsequent policy changes, Trump said:
“We ended the war on crypto once and for all.”
The president cited an executive order prohibiting federal agencies from establishing or promoting a central bank digital currency in the United States. He also highlighted the strategic bitcoin reserve, the U.S. digital asset stockpile, and the SEC’s Project Crypto initiative.
Trump Says US Crypto Purchases Remain Under Discussion
Responding to a question about whether the government could acquire “sizable amounts” of bitcoin or other cryptocurrencies, the president said the proposal remained under consideration. Trump stated:
“Well, it’s been talked about. I think I’d probably rely on Paul and the whole group for that. He’ll make a decision. You guys will make a decision and you’ll let me know.”
Offering no purchase plan or timeline, the president added that he would consider recommendations from Securities and Exchange Commission (SEC) Chairman Paul Atkins and other officials. Referring to cryptocurrency, Trump said: “It’s uh it’s taken a lot of pressure off the dollar. It’s been very, very good for the dollar.” He did not explain the economic mechanism supporting that assessment.
Regulators and Market Leaders Outline Their Priorities
Commodity Futures Trading Commission (CFTC) Chairman Mike Selig characterized the administration’s approach as a break from regulation through enforcement and said clearer rules could attract investment, create jobs, and retain technological development in the United States.
“Innovation depends on regulatory clarity. Clear rules create confidence,” Selig said, adding: “Confidence attracts investment, and investment creates jobs, strengthens our markets, and keeps the world’s best talent building here in America.”
SEC Chairman Paul Atkins discussed tailored fundraising exemptions for qualifying crypto asset transactions. The Aug. 18 proposal would permit eligible offerings of up to $5 million over four years or $75 million during each 12-month period. Atkins said:
“Our proposal, the Crypto Assets Rule, would provide crypto entrepreneurs like those here in this room and job creators the certainty to raise capital in the United States using digital assets.”
Intercontinental Exchange (NYSE: ICE) CEO Jeffrey Sprecher supported reviewing outdated regulations, while Robinhood Markets Inc. (Nasdaq: HOOD) CEO Vlad Tenev promoted tokenization alongside investor protection. Kraken co-CEO Arjun Sethi discussed financial access and recalled Trump asking why Kraken operated at “warp speed” instead of “Trump speed.”
Armstrong Presses Congress as Ethics Dispute Continues
Crypto exchange Coinbase (Nasdaq: COIN) CEO Brian Armstrong praised the administration’s regulatory appointments and urged senators to advance the Digital Asset Market Clarity Act of 2025. The House passed H.R. 3633 by a 294-134 vote on July 17, 2025, but the Senate has not completed floor consideration.
Armstrong said:
“I think what’s most important next is the September 15th vote we have with the CLARITY Act.”
During the Aug. 19 meeting, Armstrong identified Sept. 15 as the legislation’s next major test, while Trump called the bill bipartisan. The deadline followed Senate Majority Leader John Thune’s Aug. 8 cloture filing. The procedural motion requires 60 votes to open debate and is not a final-passage vote.
Presidential ethics remain disputed despite a July 21 White House agreement restricting certain digital asset activity by senior federal officials. Senate Democratic staff later identified five alleged ethics loopholes, while Republicans said the proposal established strong federal restrictions. Negotiators then proposed an enforcement counteroffer allowing state attorneys general to pursue violations, an unresolved issue before Senate debate.
