White House Crypto Summit: A Complete Failure?

In the context of the crypto industry is growing strongly, the Crypto Conference at the White House is expected to be a turning point in introducing transparent regulations and supporting innovation. However, this event left many contradictions and deep disappointments in the heart of the crypto community. A conference that doesn't offer a clear framework Despite being promoted with much promise, the conference ultimately did not offer a specific roadmap for building a legal framework for the industry. Instead of establishing clear regulations, delegates focused on highlighting the potential risks of crypto. The lack of a "road map" for the development of blockchain technology and related applications has left many investors and businesses feeling lost and directionless. Political rhetoric and lack of practical exchanges One notable feature of the conference was the abundance of political statements rather than in-depth discussions with industry experts. Many say that instead of creating conditions for crypto leaders to share their views and propose practical solutions, the event is more about warning about the risks and challenges that this technology can bring. This has created a gap between public policy and the actual needs of the industry. Prioritizing CBDCs over decentralized crypto Another key point of the conference was the excessive preference given to digital currencies issued by central banks (CBDC). Rather than encouraging the development of decentralized solutions, the discussions mainly revolve around how to control and manage cryptocurrencies through government mechanisms. Not only does this make many developers feel pressured in terms of creativity, but it also raises questions about the true role of crypto in the future of the global financial system. Industry Reaction The crypto community, with its high initial expectations, has reacted with disappointment. Many experts and entrepreneurs believe that the conference is "a missed opportunity" when there are no specific commitments or a clear roadmap. Some even warn that without proper transparency and regulation, the industry will be forced to reorient its development abroad, where there is a more innovation-friendly regulatory environment. The Future Direction for the Crypto Industry Although the current conference has not achieved the expected results, the lessons learned from this event open up directions for the future: Transparency and clarity are required: The industry needs to continue to advocate for specific regulations that facilitate sustainable development. The value of decentralization: Lessons from the conference further highlight the importance of decentralized solutions – the core element that makes up the vitality of crypto. Global competition: While the U.S. may be faltering, many other countries are rapidly building favorable regulatory environments to attract investment and promote innovation. Conclude The Crypto conference at the White House, with its vague statements and commitments, left the impression of a government agency that is not really willing to accompany the drastically changing industry. If the U.S. wants to maintain its position on the international stage, it needs to quickly reform and build a legal system that both protects consumers and encourages creativity. For investors and businesses, this is the time to prepare to face challenges in the context of incomplete regulations, and at the same time look for opportunities in other markets with a more favorable environment. What do you think of what happened at the conference? Is this a sign of a turning point, or just a long way to go for the crypto industry? Discussions and opinions from the community are gradually opening up new directions for the future of cryptocurrencies.