Bloomberg reported that the transition team of President-elect Donald Trump is considering creating a position in the White House dedicated solely to crypto policy.
This development coincides with growing speculation about the inclusion of pro-crypto leaders in key positions within the new administration, as Trump’s advocacy for digital assets has been evident during his presidential campaign.
Trump’s Plan To Reshape Crypto Policy
As per the ReportageSources familiarized with the transition indicate that Trump’s staff is actively vetting potential candidates for this unique role. It would be the very first time in White House history a position solely focused on crypto was created.
Bloomberg points out that the exact position will depend on whether the role is one of senior staff or an executive. “crypto czar” The future of federal policy and regulation is uncertain.
Industry advocates are calling for the creation of a new position to keep a line of communication open with Trump. They stress the importance of a strong voice representing digital assets in the administration.
Related Readings: Crypto-Friendly Howard Lutnick Poised As US Department Of Commerce Leader Under Trump
During the campaign, Trump actively engaged in the crypto community. He promised to do so. A more favorable position This could result in the adoption of other investment vehicles than Bitcoin and Ethereum.
The President-elect also stated his intention to remove the current Securities and Exchange Commission Chairman (SEC). Gary Gensler, who is a proven expert in regulation and enforcement, to form a presidential advisory council focusing on digital assets.
Bloomberg revealed Wednesday that unnamed industry representatives are currently preparing themselves to take on potential positions on the council.
Meetings with Industry Leaders
In discussions about the proposed crypto role, it was suggested that a person be appointed to head a small team, which would act as a liaison between Congress, White House and the White House. Regulation agencies SEC and Commodity Futures Trading Commission.
According to reports, this position would play a key role in shaping cryptocurrency and fostering communication among different government agencies. The transition team for the 47th president of the United States has yet to provide any additional information or make an official statement.
Trump’s engagement in the digital asset sector includes multiple meetings with executives of Bitcoin mining companies and cryptocurrency ExchangesAs well as a keynote speech at the National Bitcoin Conference in July.
Related Reading: Inside Trump’s Crypto Meeting with Coinbase CEO: what was discussed on Monday?
Bloomberg revealed that crypto-allies have also visited Trump’s Mar-a-Lago in recent days to conduct interviews and discuss personnel.
Brian Brooks was reportedly among those who met with Trump. He is a former executive of Coinbase and Binance.US and is being considered to be the SEC Chair.
Bitcoinist also reported that Brian Armstrong of Coinbase spoke to Trump in this week. This highlights the outreach by the Trump administration to the leaders in the digital assets market.
The 1D graph shows the total cryptomarket cap reaching $3 trillion. Source: TradingView.com
Chart by TradingView.com. Image from DALL.E.
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