In a groundbreaking development, Donald Trump’s transition team is exploring the creation of the first-ever White House cryptocurrency position. According to Bloomberg, this innovative role aims to reshape how the government approaches digital currency policy. Furthermore, this move signals a significant shift in the relationship between cryptocurrency and federal oversight. Let’s explore more about the White House Cryptocurrency Position.
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White House Cryptocurrency Position: Building the Crypto Bridge
The proposed position would serve as a vital link between various government bodies. Specifically, this role would coordinate policy across Congress, the White House, and key regulatory agencies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Additionally, the position would manage a dedicated team focused on cryptocurrency matters.
Direct Access to Presidential Leadership
Industry advocates are pushing for this role to have direct communication channels with Trump. Moreover, this access would ensure that cryptocurrency concerns reach the highest levels of government decision-making. Subsequently, this could lead to more informed and balanced crypto policies.
Trump’s Crypto-Friendly Approach
Throughout his campaign, Trump has demonstrated strong support for the cryptocurrency industry. Notably, he has pledged to:
- Replace current SEC Chair Gary Gensler
- Establish a new cryptocurrency presidential advisory council
- Engage directly with industry leaders
Industry Engagement and Potential Candidates
Trump has actively engaged with cryptocurrency leaders, including:
- A recent meeting with Coinbase CEO Brian Armstrong
- Discussions with Bitcoin mining companies
- Conversations with various crypto exchanges
The transition team is currently evaluating potential candidates for both the new position and SEC leadership. Teresa Goody Guillen, a former SEC attorney, and Brian Brooks, previous CEO of Binance US, are among the notable candidates being considered.
Personal Investment in Crypto Future
Trump’s involvement in cryptocurrency extends beyond policy. Indeed, he has launched World Liberty Financial and explored potential acquisitions in the crypto space, including discussions about purchasing the crypto exchange Bakkt.
