PANews reported on February 14 that according to Unchained Crypto, the Trump administration may not launch a formal "Cryptocurrency Council" in the end. According to three sources familiar with the decision-making process, the White House may convene a rotating group of cryptocurrency leaders to hold a series of "summits" on specific cryptocurrency policy issues. It is not clear how many summits will be held and when they will be held. Initial meetings may focus on topics such as banking, payments, data centers, and Bitcoin mining. Two sources confirmed that industry associations have provided opinions on different ideas. The US government believes that these temporary crypto summits are a way to avoid conflicts between factions within the crypto industry. A series of policy differences have emerged between centralized and decentralized cryptocurrency projects, Bitcoin supremacists and altcoin executives, those who support and oppose integration with traditional finance, and individual executives who simply compete for power.

Trump promised to establish a cryptocurrency council last December, and Trump said that cryptocurrency czar David Sacks would serve as chairman of the council, while young North Carolina politician Bo Hines would serve as executive director. Although Hines has kept a low profile since the announcement, he has been meeting with politicians and lobbyists on Capitol Hill in recent weeks, according to a person with direct knowledge of the matter.

Industry reactions to the potential shift from a formal council to a summit were mixed. One source described the idea as a pragmatic approach that would allow experts in related fields to speak out on relevant issues. Others were skeptical, arguing that the summit could be a mechanism to avoid conflict rather than a platform for making meaningful policies. One source even accused Trump of being more interested in the summit to gather information for personal financial gain rather than shaping policy.