ChainLink co-founder Sergey Nazarov revealed details about what happened at the White House digital summit he attended.
According to Nazarov, the administration has decided to end regulatory pressures and position the country as a leader in the fast-growing Web3 economy.
Speaking about the event, Nazarov noted the increased interaction between policymakers and the crypto industry. While optimism about the administration’s approach to digital assets is growing, he noted that much of the market’s initial enthusiasm for Bitcoin has already been priced during the election period. However, he hopes to increase the clarity of regulations to pave the way for larger institutional adoption, which can dramatically expand the market.
“As we become more clear, especially as their clarity allows more regulated entities to enter the industry, the numbers that these entities represent will make it clear that this is a much larger market than they are now,” Nazarov said.
While much of the summit was spent in public statements from President Trump and tech investor David Sachs, Nazarov shed light on the debate that took place behind closed doors and focused on widespread optimism among industry leaders who appreciated the participation of key secretaries, including the Treasury Secretary, Commerce Secretary, and Congressional members such as Tom Emmer and Brian Stayle.
Nazarov noted that the crypto industry is increasingly recognized as unfairly targeted in past regulatory environments. “It’s becoming increasingly clear that our industry is being unfairly persecuted in the ways that prevent it from thriving in the United States,” he said.
According to Nazarov, the administration’s strategy revolves around securing US leadership in the global crypto economy. “The general motto of this administration is that if something has a global impact or impacts the US economy, they want to be in leadership,” he said.
He argued that this commitment was emphasized by the presence of high-ranking officials and their commitment to ensuring that the crypto industry is no longer restrained by unfair policies. He said the government’s goal is to create an environment where blockchain innovations will flourish and make the US dominant power in the Web3 financial system.
When asked what steps the US should take to exploit this position, Nazarov pointed to the country’s already strong financial system and reputation for reliable transactions and low-level fraud. He outlined three important priorities to further strengthen his leadership.
- Issuing High Quality Digital Assets – The US should focus on creating the most reliable stubcoins, tokenized funds, commodity coins and tokenized real estate assets.
- Automating Compliance – Blockchain technology reduces compliance costs, making operations more efficient and captivates international investors.
- Increased market share in the Web3 economy – By implementing these improvements, the US can expand its role in the new, decentralized financial landscape.
Nazarov believes that if the US succeeds in these priorities, it will not only support domestic growth in the crypto industry, but will also gain a competitive advantage in the broader global financial system.
*This is not investment advice.
