Washington, DC President Donald Trump assured the crypto sector that it is again on a first summit of the White House on Friday, illustrating what the industry suspects: It has friends at all levels in Washington.

“I know many of you have been fighting for years for this, and it’s an honor to be with you in the White House,” Trump said when the White House met.

In his short statement, Trump said he would end his predecessor’s “war on crypto”, praised legislators’ legislative efforts and discussed his new Bitcoin reserve.

“Supervisory authorities strong armed banks. I mean, they really did – the strong armed banks to close the accounts of cryptic businesses and entrepreneurs, which effectively blocked some money transfers to and from exchanges, and they weaponed the government against the entire industry, ”Trump said. “But I know that feeling maybe maybe better than you do. All this will be over soon and we’ll end Operation Chokepoint 2.0.”

Trump said he would sign the stablecoin legislation before Congress breaks down for the discharge in August.

“I also want to express my strong support for the efforts of legislators in Congress when working on bills to provide regulatory security for dollar-stacked stablecoins and the market for digital assets,” he said. “They work very hard on it. This is a huge opportunity for economic growth and innovation in our financial sector and will really go a long way.”

With reference to his executive order on Thursday, creating a Bitcoin reserve, Trump said it was “foolish” that the federal government had already sold so much of its seized Bitcoin

“The federal government is already among the biggest holders of Bitcoin, as you know, really one of the greatest holders in the world, with as many as 200,000 Bitcoin obtained through civil law and various other forms of legislation, including enforcement measures,” he said. “These existing possessions will form the basis of the new reserve.”

“From this day, America will follow the rule that every bitcoiner knows very well never sell your bitcoin,” he said.

Wide cuts of the industry were represented by the guest list that included top leaders of Coinbase, Ripple, Kraken, Gemini, Chainlink, Robinhood and many others representing the most formal looking crypto group since Black-Tie Ball celebrating Trump’s election victory. Tyler and Cameron Winkelvoss from Gemini and Sergey Nazarov from Chainlink were among those who spoke during the live streamed part of the summit.

Earlier on Friday, a senior official in the White House further managed the administration’s attitude towards his Bitcoin Reserve and the secondary crypto storage that Trump’s order is intended to establish. The official said the US government has estimated 200,000 Bitcoin to start the reserve and will conduct an audit to find out the specific holdings and any non-bitcoin attacks will be maintained in the second stock. No new money will be put into non-bitcoin assets, and any active future investments in Bitcoin should be prepared in a way that does not use tax dollars, the official said.

The afternoon summit was largely intended to set a tone from the administration, which has quickly tried to put digital assets on a friendly foot than the industry experienced under the administration of former President Joe Biden.