This week, Wyoming Sen. Cynthia Ramis used the Bitcoin symbol to call Trump’s sovereign wealth announcement “a big deal,” and Bitcoin could play a role in the fund. It sparked optimism that there was.
However, at a press conference Tuesday, White House AI and Crypto Czar David Sacks revealed that the Sovereign Wealth Fund is “separate” from the current Bitcoin movement.
“SWF (Sovereign Wealth Fund) can provide diversification and influence in the global market, but its establishment will complicate funds without increasing national debt due to its US status as a net debtor. It raises concerns because it could be possible,” he said in a statement shared with TheStreet Crypto.
“U.S. SWF investments can include traditional assets such as equities, bonds and real estate, as well as emerging sectors such as technology and renewable energy,” Bai explained. “There is speculation about the inclusion of cryptocurrencies, but the role of SWF may be extended beyond crypto to support strategic national interests.
Meanwhile, Crypto Czar’s bag highlighted the need for regulatory clarity on Tuesday, highlighting the Trump administration’s efforts to advance this effort, including forming an internal working group on digital assets.
“The legislative framework defined as a structured working group is exactly what the industry has been demanding,” Laurent Alba, head of business development at Rome Protocol, told ThestReet Crypto.
“Regulatory uncertainty has driven talent, capital and innovation over the years in jurisdictions such as Singapore, Switzerland and the United Arab Emirates,” added Alba. “If this initiative successfully implements clear pro-promotion guidelines, it could encourage crypto companies to return to the US.”
“With all aspects of government now, it’s clear that the era of blocking crypto innovation is over,” added Paul Neuner, CEO of Telcoin.
In his speech Tuesday, Sachs highlighted the Trump administration’s desire to maintain American talent in the crypto industry. The message resonated with several crypto companies: “We were plagued by the SEC (US Securities and Exchange Commission) in the notorious war on crypto,” and companies that were recently threatened by the SEC. said Alex Konanykhin, CEO of Unicoin. Enforcement action. “It was refreshing to hear from David Sack that he wants to maintain innovation in athletics and athletics in the US.”
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