U.S. President-elect Trump has announced plans to establish a cryptocurrency advisory committee that will provide advice on digital asset policy, collaborate with Congress to develop cryptocurrency-related legislation, and assist in creating the Bitcoin reserve that Trump has promised. (Background: U.S. think tank: Bitcoin strategic reserve 'cannot solve U.S. debt crisis' – BTC is not that magical...) (Context: BlackRock: The global Bitcoin strategic reserve competition has begun, and no country can afford to ignore BTC anymore.) According to a Reuters report, several senior executives in the digital asset industry have revealed that multiple cryptocurrency companies, including Ripple, Kraken, and Circle, are competing to secure seats on the cryptocurrency advisory committee promised by U.S. President-elect Trump, attempting to exert influence in his U.S. policy reform plans. At a Bitcoin conference in July, Trump pledged to form a new committee as part of his pro-cryptocurrency policy, and his transition team is currently discussing the structure and composition of the committee, as well as which companies should be included. It is reported that several leading U.S. cryptocurrency companies have expressed strong interest in participating in the committee, including venture capital firm Paradigm, and venture capital giant Andreessen Horowitz (a16z) is also expected to have a seat. Bitcoin Magazine CEO David Bailey stated that the committee is currently being planned, but it is anticipated that leaders of major U.S. Bitcoin and cryptocurrency companies will participate. Coinbase's CEO has expressed interest in joining the committee, and Circle's CEO Jeremy Allaire also stated this month that he hopes to join the committee. The committee will help build the Bitcoin reserve. According to two sources, the cryptocurrency advisory committee may be affiliated with the White House National Economic Council, which is responsible for coordinating and implementing the president's economic policies, but it could also be a separate department set up within the White House. The committee is expected to provide advice on digital asset policy, collaborate with Congress to draft cryptocurrency-related legislation, assist in establishing the Bitcoin reserve promised by Trump, and coordinate cooperation among agencies such as the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Treasury Department. Further reading: If Trump establishes a Bitcoin strategic reserve, it 'may undermine' the dollar's dominant status.. a gift to China and Russia. One source indicated that the committee may also include law enforcement representatives and former policymakers. Trump's transition team is also discussing the establishment of a role for a 'cryptocurrency tsar,' who is likely to lead the committee, and Trump's team is screening candidates for this role. Previously, Reuters reported that Circle's General Counsel, former CFTC Chairman Heath Tarbert, and former Republican CFTC Commissioner, a16z's crypto policy head Brian Quintenz, have been providing advice on cryptocurrency policy to Trump's transition team. Related reports: U.S. congress members strongly recommend selling Fed gold to exchange for 1 million Bitcoin strategic reserves. If Trump establishes a Bitcoin strategic reserve, it 'may undermine' the dollar's dominant status.. a gift to China and Russia. A Polish presidential candidate shouted: If elected, I will establish a Bitcoin strategic reserve! The global BTC bidding heats up. "Trump's planned cryptocurrency advisory committee will assist in establishing a U.S. Bitcoin reserve" was first published in BlockTempo (the most influential blockchain news media).

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