Post Crypto Summit 2025, Trump Urges Immediate Crypto Regulation!

Jakarta, Pintu News—The President of the United States, Donald Trump, shook up the crypto industry again by holding a Crypto Summit at the White House. In this meeting, Trump pressured the Crypto Task Force of the US Securities and Exchange Commission (SEC) to finalize the regulation of cryptocurrencies and stablecoins before the end of August 2025.

With a deadline of just five months, the move was seen as an aggressive attempt to regulate the rapidly growing crypto industry. However, the decision has sparked mixed reactions, including volatility in the global crypto market.

Check out the full news here!

Crypto Regulation is Getting Closer, What are the Key Decisions at the Crypto Summit?

According to Observe Voice, during the meeting, Chris Dixon, lead partner at investment firm Web3 a16z crypto, highlighted that setting this regulatory deadline was the most significant decision announced at the meeting.

Dixon emphasized the importance of balanced regulation, where the policies implemented consider the risks and the huge potential of cryptocurrencies and artificial intelligence AI3.25%->Current AI PriceRp 3.1733.25%Market CapRp 1,26 TriliunTrading VolumeRp 668,36 MiliarCirculating SupplyRp 130.000.000 technology.

The Crypto Summit was led by David Sacks, the White House’s “crypto czar,” and Scott Bessent, the US Secretary of the Treasury. In his statement, Bessent emphasized that the US dollar will remain the world’s reserve currency, with stablecoins as the main tool to realize this goal.

This signals that the Trump administration is now more open to cryptocurrencies and seeks to use regulation to support the industry’s growth.

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Bank Gets Crypto Service License, Coinbase Prepares 1,000 Jobs!

In a surprise announcement, the US Office of the Comptroller of the Currency (OCC) finally lifted the restrictions prohibiting banks from engaging in cryptocurrency-related services.

Banks in the US can now offer custody services, participate in blockchain, and develop stablecoin ecosystems. This major change could pave the way for crypto adoption in the traditional banking system.

Coinbase CEO, Brian Armstrong, responded enthusiastically and announced plans to create 1,000 new jobs in the Web3 sector by 2025. Armstrong believes that clear regulation will drive industry growth, create more job opportunities, and increase crypto adoption globally.

With the involvement of regulators and industry players, the future of crypto in the US seems increasingly promising.

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Bitcoin (BTC) Plummets! Crypto market loses 44.6 trillion IDR in 24 hours!

While the Crypto Summit brought a breath of fresh air for regulation, the crypto market experienced a sharp decline. Bitcoin BTC0.41%->Current BTC PriceRp 1.364.886.7660.41%Market CapRp 33.034 TriliunTrading VolumeRp 1.590 TriliunCirculating SupplyRp 19.797.675 fell to 1,351,572,680 IDR ($82,680), while the global crypto market capitalization plummeted to 44.6 trillion IDR ($2.7 billion) in a day.

Analysts believe that this volatility is occurring because investors are still waiting for more clarity on the direction of regulation.

Before this meeting, Trump had also ordered the establishment of a Bitcoin strategic reserve, where the US government would store Bitcoin and altcoins seized from various federal investigations.

This move is considered a strategy to strengthen the US position in the global digital economy. However, will this move bring stability or further exacerbate crypto price fluctuations? Only time will tell.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Oberseve Voice. Trump Pushes for Urgent Crypto Regulations at White House Summit. Accessed March 13, 2024
• Featured Image: Block Pitch