President Trump told crypto executives and technology leaders gathered at the White House on August 19 that artificial intelligence could become "bigger than the internet, bigger than anything anyone's seen," while making the case for regulatory frameworks that don't slow the industry down. "We want to regulate, but we want to have regulation where they can continue to lead," he said, arguing that rules shouldn't "stifle a very important industry" while the U.S. competes with China.
The same meeting doubled as a push on crypto policy specifically: Trump called on Congress to pass what he described as a "fair version" of the Clarity Act, the bill that would split digital asset oversight between the SEC and CFTC — digital commodities under the CFTC, tokens deemed securities remaining with the SEC. SEC Chair Paul Atkins, CFTC Chair Mike Selig and White House crypto adviser Patrick Witt attended alongside executives from Coinbase, Ripple, Andreessen Horowitz and Nasdaq. The summit came days after Atkins' SEC unveiled its own piece of the deregulatory push, with new crypto fundraising rules offering exemptions up to $75 million, a sign the light-touch approach Trump described extends well beyond the AI industry.
A Summit Timed to a Senate Vote
The gathering wasn't just a photo opportunity. It landed ahead of a Senate procedural vote on the Clarity Act scheduled for September 15, giving the administration a public moment to apply pressure before that vote.
Related: Trump Tells White House Crypto Summit US May Buy 'Sizable' Bitcoin
It also came a day after Trump told the same crowd of executives that the U.S. may buy a “sizable” amount of bitcoin, underscoring how closely the administration is now tying its AI messaging to its crypto policy push in the same room, on the same day.
The CFTC's First Innovation Meeting
The summit set up the CFTC's inaugural Innovation Advisory Committee meeting the next day, August 20, in Washington. Chairman Mike Selig's agenda for the meeting covered crypto asset regulation, artificial intelligence and prediction markets, with a 35-member panel weighted heavily toward industry — including the CEOs of Polymarket, Kalshi, Coinbase, Robinhood, FanDuel and DraftKings. Selig has framed the committee as a way to keep the Commission's rules from lagging behind the pace of innovation in both AI and digital assets.
Data Centers as the Other Half of the Argument
Trump used the same appearance to defend the rapid buildout of AI data centers, despite friction it has caused: at least 37 arrests occurred at data center protests this year, roughly 75 projects worth a combined $130 billion faced local opposition in the first quarter of 2026, and 15 states have weighed moratoriums on new development. His response was to point to companies building their own power generation rather than straining the existing grid. “Our grid is old and tired and weak, so they’re building some of the greatest electric plants,” he said, adding that some facilities are supplying excess electricity back to it.
The administration's broader AI posture traces back to the White House Ratepayer Protection Pledge signed in March 2025 by Amazon, Google, Meta, Microsoft, OpenAI, Oracle and xAI, and comes weeks ahead of a scheduled September 24 visit by Chinese President Xi Jinping — a backdrop Trump referenced directly in framing AI leadership as a competition with Beijing.
