The summit outlined regulatory changes, including crypto custody approval for banks and plans for a strategic Bitcoin reserve.
Trump Ends “Operation Choke Point 2.0”
President Donald Trump led the White House Crypto Summit on Friday, announcing major policy shifts to support digital assets. A key highlight was the administration’s decision to end “Operation Choke Point 2.0,” which previously restricted banks from offering services to crypto-related businesses. The Office of the Comptroller of the Currency (OCC) followed up with an announcement confirming that banks can now legally provide custody services for crypto assets, including stablecoins.
US Government to Hold and Accumulate Bitcoin
Trump confirmed that his administration would not sell the US government’s Bitcoin holdings. Instead, the cryptocurrency will be converted into a strategic reserve under his executive order issued on Thursday. He also directed the Treasury and Commerce Departments to explore methods of acquiring additional Bitcoin, solidifying the government’s long-term involvement in the crypto market.
Regulators and Industry Leaders Join the Discussion
The summit featured key officials, including Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Crypto Czar David Sacks. Representatives from regulatory bodies such as the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) also participated, discussing efforts to create a more defined regulatory framework for the industry.
Altcoin Reserve Under Consideration
In addition to Bitcoin, Trump revealed plans to establish a separate digital asset stockpile, which could include Ethereum (ETH), XRP, Cardano (ADA), and Solana (SOL). While details remain under discussion, the move signals a broader government interest in diversifying its crypto holdings.
Market Reacts to Summit Announcements
Despite the significant policy shifts, the crypto market experienced a 3% decline following the summit. Analysts suggest that macroeconomic concerns, including ongoing trade tensions, may have overshadowed the bullish news from the White House event.
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