Trump praised by crypto industry; investors call for market clarity

The start of President Donald Trump’s term earned rave reviews, but top industry lawyers said digital platforms wanted regulatory clarity.

The start of U.S. President Donald Trump's term earned rave reviews at the world's leading crypto conference Wednesday, but top industry lawyers said digital platforms wanted regulatory clarity while the Republicans control Congress.

"Across the board, it's been a very encouraging three months," said Lewis Cohen, a lawyer specialising in digital assets with the New York firm Cahill Gordon & Reindel.

Mr. Cohen was speaking at Consensus, the world's longest-running crypto conference, hosted this year in Canada's largest city, Toronto.

Mr. Trump's son Eric, who is promoting his own crypto business, is expected to address the conference on Thursday amid increasing questions about potential conflict of interest with his father in the White House.

Eric Trump is deeply involved in the crypto industry through direct business ventures, notably as a co-founder and executive at American Bitcoin, as well as through family-backed projects like World Liberty Financial and the $TRUMP meme coin.

The digital currency saw a spike in value when it announced that its top holders would be invited to a dinner with the president, set to take place on May 22 at the Trump National Golf Club near Washington.

U.S. crypto investors were major supporters of Mr. Trump's presidential campaign, contributing millions of dollars toward his victory in hopes of ending the deep skepticism of the previous Democratic administration toward digital currencies.