The cryptocurrency industry flocked to Washington on Friday for the White House’s first-ever crypto summit, where President Trump and his cabinet made clear the “war on crypto” is over in Washington.

The summit brought together industry experts, pro-crypto lawmakers and administration officials, marking a notable moment for the digital assets space as it looks to reach mainstream acceptance.

“My administration is working to end the federal bureaucracy war on crypto, which was really going on pretty wildly during Biden,” Trump said during remarks at the summit Friday afternoon.

“Under the [Biden] administration, regulators strong-armed banks — I mean, they really did — they strong-armed banks into closing the accounts of crypto businesses and entrepreneurs, effectively blocking some money transfers to and from exchanges, and they weaponized government against the entire industry,” the president continued.

Crypto executives and advocates have argued the Biden administration shuttered its doors to the digital assets space and chose to instead pursue probes into various cryptocurrency exchanges and firms.

Since Trump was sworn into office, the Securities and Exchange Commission (SEC) has closed several of the investigations into cryptocurrency firms, many of which were........

© The Hill