【Former CFTC Chairman Expected to Serve as the First 'Crypto Czar', Claims Crypto is an 'Important Priority' for the Trump Administration】

According to An Shouzheng, former CFTC Chairman Chris Giancarlo is a strong contender for the United States' first 'Crypto Czar', as President Trump is considering establishing this new position, which may be responsible for regulating the $3 trillion blockchain industry. Giancarlo, known as 'Crypto Dad' for his efforts to advance clear regulatory work during his two-year term (including paving the way for Bitcoin futures to be traded on U.S. exchanges), stated in an interview on Wednesday that he has turned down positions with the CFTC and the U.S. SEC. 'Trump has been very specific in laying out a series of initiatives to make the U.S. the world’s crypto capital,' Giancarlo said, referring to Trump's speech at the Bitcoin 2024 conference in Nashville in July. He mentioned this includes 'establishing a Bitcoin strategic reserve, forming a cryptocurrency committee, and ensuring people have the ability to hold self-custodied wallets.' In other areas, he discussed capital gains tax exemptions on domestic cryptocurrency earnings in the U.S., ending the de-banking of cryptocurrencies (also referred to as 'Choke Point 2.0'), and new rules and regulations through the CFTC and SEC as well as stablecoin legislation. Giancarlo, a key member of Trump's transition team, added that cryptocurrency will be an 'important priority' for the new administration. Although Trump was once a skeptic of cryptocurrencies, he has maintained good relationships with industry insiders during his re-election campaign over the past year and has made many commitments to improve the outlook of the U.S. cryptocurrency industry. 'In terms of candidates, they are usually less specific. I think Trump is very specific about what he intends to do,' he said, pointing out that Trump is surrounded by advocates for cryptocurrency, such as government efficiency head Elon Musk and Vivek Ramaswamy.