Reports emerged on Thursday that Congresswoman Marjorie Taylor Greene (R-GA) will lead the newly established Government Efficiency Subcommittee under the Government Efficiency Department (DOGE).
This department is led by CEO Elon Musk and former U.S. presidential candidate Vivek Ramaswamy and was announced by President-elect Donald Trump last week.
This department shares its name with the popular cryptocurrency Dogecoin, referencing Musk's enthusiasm for cryptocurrency.
According to Trump's announcement, DOGE intends to 'dismantle the bureaucratic machinery of government, cut unnecessary regulations, reduce wasteful spending, and restructure federal agencies.'
Marjorie Taylor Greene has been appointed to the DOGE Subcommittee
Sources told CNBC that Greene will be the chairwoman of the Government Operations Subcommittee.
In a statement to this news outlet, Greene expressed enthusiasm for this role, stating, 'I am excited to chair this new subcommittee designed to work closely with President Trump, Elon Musk, Vivek Ramaswamy, and the entire DOGE team.'
This initiative aligns with Trump's overall effort to enhance government efficiency.
At the 2024 Bitcoin Conference in Nashville, Trump stated, 'We will have regulations. But from now on, regulations will be written by supporters of your industry, not opponents of it.'
Elon Musk and Vivek Ramaswamy detail the DOGE plan
Musk and Ramaswamy are also launching a podcast 'Dogecast' to inform the public about their efforts to cut government spending.
Ramaswamy explained in a video posted on his YouTube channel on November 21 that, 'We want to take the public along with us to lift the curtain, to show us behind the scenes to see what the actual waste, fraud, and abuse in government looks like.'
In an op-ed in the Wall Street Journal earlier this week, Musk and Ramaswamy outlined their approach, criticizing lawmakers for fostering inefficiency.
"The entrenched and ever-expanding bureaucratic apparatus poses a present threat to our republic, and politicians have been complicit for too long," Musk and Ramaswamy wrote. "That is why we are doing everything differently. We are entrepreneurs, not politicians."
DOGE and the Blockchain Industry
The establishment of DOGE is a bold step towards modernizing government operations through advanced technology.
Under Greene's leadership and with the involvement of innovators like Elon Musk and Vivek Ramaswamy, this subcommittee intends to tackle bureaucracy and seek opportunities to streamline regulations, especially those affecting the blockchain industry.
During his campaign, Trump committed to implementing cryptocurrency-friendly policies, including plans to restructure agencies to better support blockchain and digital assets.
Although these promises have yet to be verified, they reflect a broader vision of promoting innovation in the technology sector.
This aligns with his stated intention to reform the SEC's heavy-handed regulatory approach and appoint officials with a more balanced view on cryptocurrency.
Although Trump's previous projects, such as World Liberty Financial, struggled to attract attention, DOGE signals a more comprehensive effort.
By emphasizing efficiency and collaboration, it has the potential to reshape how cryptocurrency policies are formed, bridging the gap between government and the blockchain sector.
