Crypto Czar David Sacks: Will issue a statement at an appropriate time to authorize the crypto industry to participate in a series of congressional initiatives

Odaily reported that Crypto Czar David Sacks, in a press conference held in Washington on Tuesday, discussed the potential for a Bitcoin reserve, stating: "This is one of the top priorities we will consider as a working group within the government. We are still waiting for some cabinet members in the working group to be confirmed, so we are still in the very early stages. But this is one of the top priorities we will consider." When asked how the crypto industry will be involved in the White House's efforts, Sacks said: "We will issue a statement at some point authorizing some form of engagement with the industry." Republican lawmakers attended the press conference with Sacks, announcing that Congress is forming a bicameral working group to develop crypto regulation. He met with Republican senators, including Senate Banking Committee Chairman Tim Scott, Senate Agriculture Committee Chairman John Boozman, and House Financial Services Committee Chairman French Hill and House Agriculture Committee Chairman Glenn Thompson. (Bloomberg) Previously, Crypto Czar David Sacks stated that the feasibility of a Bitcoin reserve is being studied, and he could not provide any answer on whether a "sovereign wealth fund holds crypto."