President Trump To Host Crypto Execs At White House

U.S. President Donald Trump is set to host crypto bigwigs at the White House Wednesday. 

The meeting — first reported last week by POLITICO — will see executives from the prediction market and digital asset space meet to discuss regulation. 

According to reports, some of the big names due to meet include executives from Coinbase, Kraken parent company Payward, and Blockchain.com. 

It hasn’t been reported which prediction markets executives will be at the meeting. 

Despite the long-awaited crypto market structure bill — the Clarity Act — being delayed, regulators are moving ahead with digital asset initiatives. 

The Securities and Exchange Commission on Tuesday proposed its own framework for crypto asset offerings, pressing ahead while the landmark legislation stalls. 

Pro-crypto lawmakers had hoped that the Clarity Act passed before Congress departed for August recess. A vote will now go ahead in September.

Lawmakers started mulling over a new draft of the bill, which was passed by the House of Representatives last year, in July. The text tackled the issue of ethics, banning government officials from promoting or making money from crypto.  

Some Democrats have criticized the president for alleged conflicts of interest as the Trump family has made money from crypto ventures. President Trump and the White House have always denied any wrongdoing. 

President Trump campaigned on a ticket to help America become the crypto capital of the world, and received backing from major players in the space. 

Since taking office, the president has passed a number of pro-crypto pieces of legislation. High-profile lawsuits against crypto companies have also been scrapped, and the SEC has taken a more friendly approach to watchdogging the space. 

President Trump has reported over $1.4 billion in income from his family’s cryptocurrency ventures.