Trump’s Crypto Summits: Pragmatic Move or Regulatory Mess?

In November, there were reports about the Crypto Council, which would involve advisers providing their take on regulations. Now, Trump is considering holding informal industry summits to discuss crypto policy issues with crypto leaders.

Unchained reported, citing sources familiar with the matter, that the initial summits will focus on banking, payments, data centers, and Bitcoin mining.

These discussions might help address conflicts of interest in crypto, such as disagreements between centralized and decentralized projects or tensions between bitcoiners and altcoiners.

The insights from these discussions could provide clarity on how to integrate crypto into traditional finance.

Which Is Better: A Crypto Council or Industry Summits?

In December 2024, Trump confirmed discussions about the Council. He appointed politician Bo Hines as the executive director and Crypto Czar David Sacks as the chair of the working group.

Trump stated that the Council’s goal is to foster innovation and growth in the digital asset space while ensuring that crypto leaders have the resources they need to succeed. He also emphasized the importance of creating an environment where crypto remains a cornerstone of U.S. tech advancement.

In January, speculation began about who would have a seat on the Council and help shape regulatory requirements. Trump’s meetings with crypto leaders including Coinbase CEO Brian Armstrong, Ripple’s Brad Garlinghouse, and Jeremy Allaire, sparked discussions.

Bloomberg, citing sources familiar with the matter, reported that the Council would include about two dozen CEOs and founders. As a result, concerns have emerged that Council members could have significant influence over digital asset policy and may advocate for regulations that benefit their businesses.

On the other hand, summits will likely allow for broader participation from founders in policy developments. That being said, there has been no official announcement about crypto summits yet. It is also unclear how many summits there will be or in what format they will take place. 

Are Crypto Summits a Step in the Right Direction? 

Crypto summits sound like a good idea – at least in theory. Unlike the Crypto Council, which is made up of a select group of industry leaders, summits could open the conversation to a much broader crowd. More voices, more perspectives, and hopefully, more balanced discussions.

If they create meaningful discussions between regulators, industry leaders, and developers, they could help shape policies that make sense for both crypto and traditional finance. They might even help smooth out some of the tensions between centralized and decentralized projects.

But if these gatherings don’t lead to concrete outcomes, they could end up being little more than PR stunts. There are still risks that big players will dominate the conversation, leaving smaller projects or independent voices unheard.

Another concern is that the summits will turn into business deal opportunities rather than policy discussions, especially considering Trump’s involvement in crypto through his $TRUMP memecoin and DeFi project World Liberty Financial.

How all of this will unfold is uncertain, but changes in the regulatory landscape are surely coming.