The U.S. government held its first official press conference focused on Bitcoin and digital assets, led by Crypto Czar David Sacks and several lawmakers.
The event outlined the administration’s approach to digital asset regulation and policy, highlighting plans for a clear regulatory framework.
Sacks referenced a recent executive order from President Trump, stating that the administration aims to support the responsible expansion of blockchain and digital assets.
He noted that the order also established a federal working group to develop regulatory guidelines, including stablecoin oversight.
Regulatory Clarity and Industry Oversight
Sacks emphasized the need for clear regulations, citing feedback from industry participants who have expressed concerns about regulatory uncertainty.
He also discussed collaboration with congressional leaders, including Senator Tim Scott (R-SC), Congressman French Hill (R-AR), Senator John Boozman (R-AR), and Congressman G.T. Thompson (R-PA), to advance policies that provide certainty for the industry.
Senator Boozman highlighted that digital assets require different forms of oversight, with some classified as commodities and others as securities. He stressed the need for tailored regulatory approaches.
Congressman Hill underscored the importance of ensuring the U.S. remains competitive in financial technology.
“Our innovators need clarity. They need to know what the rules of the road are,” he said. To address this, a joint working group from key congressional committees will work on shaping policy.
Legislative Efforts and Regulatory Discussions
During the Q&A session, Senator Scott pointed to bipartisan efforts on digital asset legislation, mentioning ongoing work by Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand on a market structure bill.
When asked about Anti-Money Laundering (AML) regulations, Scott said he was open to reviewing policies.
“I think that the broader conversation should not be about digital assets alone,” he stated. “It’s about bad actors doing bad things by any means necessary.”
Congressman Hill added that AML regulations should be applied consistently across financial sectors, including digital assets.
Educating Lawmakers on Digital Assets
Congressman Thompson emphasized the need for more education on digital assets among lawmakers, noting that it remains a relatively new subject for many in Congress.
“Member education is what our first goal is here,” he said. Congressman Hill agreed, stressing that lawmakers need technical guidance to make informed policy decisions.
Sacks echoed this sentiment, stating that the administration would work to provide educational resources with input from industry experts.
Evaluating a U.S. Bitcoin Reserve
Sacks concluded the event by confirming that the administration is exploring the possibility of a Strategic Bitcoin Reserve.
“One of the things that the President instructed us to do was to evaluate the idea for a Bitcoin reserve,” he said, adding that this initiative would be among the administration’s early priorities.
The press conference marked a shift in Bitcoin and digital asset policy, with officials focusing on regulatory clarity, industry competitiveness, and legislative efforts.