In what can only be described as a seismic shift for the crypto industry, the White House Crypto Chief has officially declared an end to “Operation Choke Point 2.0,” accusing federal regulators of strongarming banks against legitimate cryptocurrency businesses.
The announcement came during the first-ever White House Crypto Summit, marking a dramatic pivot toward a crypto-friendly regulatory approach under the new administration.
The Treasury Department dropped a bombshell by revealing plans for a Strategic Bitcoin Reserve that will house up to 200,000 BTC.
In a stunning policy reversal, Treasury unveils plans to stockpile 200K Bitcoin, positioning the government as a crypto whale overnight.
Yeah, you read that right. The U.S. government—historically crypto’s biggest party pooper—now wants to HODL. Assets will be acquired through civil law and enforcement actions, instantly making Uncle Sam one of the world’s largest Bitcoin holders.
They’re even implementing a “Never Sell Your Bitcoin” policy. Talk about a plot twist.
Federal agencies are falling in line with the new direction. The SEC is inviting public input on crypto assets and dropping high-profile enforcement actions against exchanges.
The CFTC announced an end to “regulation by enforcement.” Guess those regulators finally got the memo.
The administration has assembled quite the crypto dream team. David Sacks is now White House AI and crypto czar, with Scott Bessent as Treasury Secretary and Howard Lutnick heading Commerce.
President Trump emphasized American leadership in the digital asset space during his address in the State Dining Room, surrounded by industry executives and federal representatives.
Kelly Loeffler nabbed the SBA Administrator role, while Michelle Bowman got the nod for the Fed’s top bank regulator position.
Congress isn’t sitting on the sidelines either. A bipartisan vote passed H.J. Res. 25 to repeal the IRS DeFi Broker Rule, with 216 Republicans and 76 Democrats backing the measure.
Senator Bill Hagerty introduced stablecoin framework legislation, aiming to propose a federal regulatory framework within 100 days.
The OCC’s recent Interpretive Letter 1183 permits national banks to provide crypto custody services and hold reserves for stablecoins, eliminating previous requirements for banks to demonstrate specific controls.
Industry leaders including Coinbase’s Brian Armstrong, Robinhood’s Vlad Tenev, and Chainlink’s Sergey Nazarov attended the White House summit.
After years of regulatory whack-a-mole, they finally have something to celebrate.
This regulatory shift comes as the market approaches 9,000 different cryptocurrencies, with stablecoin supply expected to exceed $400 billion by 2025.
Crypto winter? More like crypto spring.
