Virtual Asset Summit to be Held at the White House... Will Bitcoin Rebound?

A 'Virtual Asset Summit' to discuss virtual asset promotion policies and regulatory directions will be held at the White House on the 7th (local time).

According to News1, the White House announced on the 28th of last month that founders, CEOs, and investors from the industry will attend the first-ever virtual asset summit. David Sachs, who serves as the 'Crypto Czar,' will moderate the meeting.

With recent volatility in virtual asset prices, attention is focused on what will be covered at this summit. Major virtual asset prices rose after Donald Trump's victory in the U.S. presidential election in late November last year, but have been declining since Trump's inauguration due to the impact of his comprehensive tariff policies.

In announcing the summit, the White House said it aims to "encourage innovation while clearly establishing a regulatory framework for virtual assets." Major discussion topics are expected to include the 'Stablecoin Bill' and the 'Bitcoin Strategic Reserve Asset Bill.'

President Trump previously signed an executive order in late January to establish a virtual asset working group. This working group is expected to review plans for stablecoin and Bitcoin's strategic asset status.

Stablecoins can be utilized to maintain dollar hegemony. Major stablecoins like USDT (Tether) and USDC are pegged 1:1 to the US dollar, meaning that as more stablecoins are issued and used, dollar demand increases.

It remains to be seen whether Bitcoin's strategic reserve asset status will be addressed as a key agenda item. President Trump has publicly pledged since his candidacy to make Bitcoin a national strategic reserve asset after his election, but related legislation was automatically discarded when the congressional session ended.

Case Han, Hankyung.com reporter case@hankyung.com