- Donald Trump may dump crypto council ideas for informal summits.
- Crypto Council plan is fueling infighting among cryptocurrency communities.
- Informal summits would enable flexible and less contentious discussion forums.
According to reports, President Donald Trump may be backtracking his plans to work with a crypto council to determine the policies governing the cryptocurrency industry. Instead, Trump may adopt informal summits with a rotating group of crypto industry leaders to address current demands.
In the meantime, an unapologetic Bitcoin maxi, Pierre Rochard, seized the opportunity to dig at his rivals, asking them to abandon their projects for Bitcoin maximalism. That way, everyone would move forward in unity for BTC.
Trump’s new model will reportedly host summits focusing on specific policy issues, potentially covering banking, payments, data centers, and Bitcoin mining. In the meantime, sources close to Trump’s administration confirmed that trade associations have started providing inputs on structuring the summits’ agenda.
Related: Trump’s Crypto Orders: SEC Reforms and a Presidential Crypto Council
Industry Leaders Weigh in on Summit Structure
The potential switch was born out of a need to quell the ongoing infighting among crypto community members, which has fragmented along ideological and business lines. Centralized and decentralized projects within the crypto industry appear to be at loggerheads, with Bitcoin maximalists and altcoin executives vying for superiority and influence.
Rochard’s documented media war against Ripple executives highlights the extent of the antagonism between the Bitcoin and XRP communities. Rochard accused Ripple executives of exploiting their informal relationship with members of the Trump administration to campaign for XRP’s inclusion in the US government’s proposed crypto stockpile plan. The latter refuted the allegation, explaining why altcoins should be part of the proposed list of digital assets the government should hold.
Related: Trump’s Crypto Council: Ripple, Coinbase, and Circle Vie for Seats
Reports indicated that adopting informal summits would allow the Trump’ administration to create a more flexible, less contentious discussion forum. Although the idea received mixed reactions, some industry experts consider it a pragmatic approach that would allow subject-matter experts to weigh in on relevant issues.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
