Bloomberg reported that the US President elect Donald Trump was considering creating the very first White House position dedicated to crypto policies.
Trump, according to the report, is currently in discussions with executives from the industry about whether the new position is needed. He is also reportedly screening possible candidates for the position.
Crypto advocates want the new role to report directly to Donald Trump
It is still unclear whether the role will be another White House staff position or if a “crypto czar” will be established to coordinate policy between federal agencies. Crypto advocates still want Trump to have the power to direct this new position.
The report states that the person who is appointed to this role would be responsible for a small team and serve as a mediator between Trump, Congress, and numerous federal agencies. The US Securities and Exchange Commission and the US Commodity Futures Trading Commission are among these federal agencies.
Coinbase CEO among crypto industry executives Brian Armstrong According to the report, a former executive from one of the largest US crypto exchanges Brian Brooks had a meeting with Trump on the 19th November.
Trump’s Presidency Can Benefit DeFi and Gaming The Most
Trump, who is pro-crypto, will likely implement a more accommodating regulatory framework for digital assets in the US. The market began to rally after Trump’s election win, based on the possibility of a change in US crypto policies. Bitcoin Also, the company has set a new record of $97K or more in the past 24 hours.
While a sense of euphoria looms in the crypto market, Sky Mavis co-founder Jeffrey Zirlin believes blockchain gaming and decentralized finance (DeFi) will benefit the most from Trump’s win.
During a Nov. 21 interview at the YGG Play Summit in the Philippines, he said “The bottom line is that the token design space has now been massively opened up. I believe that’s most bullish for DeFi and gaming, which we believe are the most consequential sectors that have the most long-term substantive value in this industry.”
