Trump’s Crypto Czar, David Sacks, is set to lead a press conference to outline how the administration will work with Congress to make the U.S. a leader in the digital asset ecosystem.
From public statements to the crypto executive order establishing a crypto working group, President Donald Trump has made it clear that he wants the U.S. to lead the way in crypto innovation.
Now, market participants may be set to gain a clearer insight into the Trump administration’s policy approach to crypto.
Crypto Press Conference
Trump’s crypto czar, David Sacks, is set to lead a press conference to outline how the administration will work with Congress to make the U.S. a leader in the digital asset ecosystem.
Per a recently published memo, the press conference slated for 2:30 pm ET today, Tuesday, February 4, will feature a slew of Republican lawmakers leading key legislative committees.
This includes Senator Tim Scott, Chair of the Senate Banking Committee; Senator John Boozman, Chair of the Senate Agriculture Committee; Representative French Hill, Chair of the House Financial Services Committee; and Representative G.T. Thompson, Chair of the House Agriculture Committee.
Notably, the committees headed by these lawmakers play a major role in overseeing several market regulators, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
The Trump Crypto Working Group
As head of the Trump administration’s crypto working group, Sacks is tasked with working with the heads of these regulatory agencies to present recommendations on crypto regulations, which will likely come before the aforementioned legislative committees.
The working group has until July 2025 to present Trump with its recommendations, as it was given a 180-day timeline. In line with this timeline, the group is scheduled to identify all crypto-related regulations, guidance, and orders by the end of February 2025.
By the end of March 2025, each agency within the working group is supposed to have submitted a report to Sacks on whether and how these regulations should be amended.
Ahead of Tuesday’s press conference, industry participants continue to call for the establishment of a Bitcoin strategic reserve, which would see the U.S. government become an active buyer of the leading digital asset.
Speculation around such a development has been stoked by Trump’s recent executive order to establish a sovereign wealth fund.
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