White House senior official: Trump's cryptocurrency summit will not involve tax issues, and will focus on overturning the unfavorable policies of the Biden administration

According to Cointelegraph, a senior White House official confirmed that the cryptocurrency summit scheduled for March 7 by President Trump will not discuss tax issues but will focus on overturning unfavorable policies from the previous Biden administration.

The official stated in a virtual preview of the summit held at 10 am Eastern Time: "There won't be any content about taxes. The internet is full of various rumors about cryptocurrencies... I don't know how these rumors started."

The official explained that this summit will serve as a venue for industry leaders to provide regulatory feedback: "The president promised during his campaign to establish a cryptocurrency committee. He wants to hear suggestions and feedback from the industry, which is the purpose of this summit."

This senior official also confirmed that Bitcoin would receive special treatment on the "federal government's balance sheet". The Trump administration plans to "overturn" Joe Biden's suppressive policy towards cryptocurrencies and regards Bitcoin as the digital equivalent of Fort Knox for gold.