According to a Bloomberg report, the transition team of President-elect Donald Trump is considering creating a new position at the White House focused on cryptocurrency policy. This development coincides with increasing speculation about bringing cryptocurrency-friendly leaders into key positions in the new administration, as Trump's support for digital assets has been clearly demonstrated in his presidential campaign.
Trump's plan to reshape cryptocurrency policy
According to reports, sources close to the transition effort indicate that Trump's team is actively vetting candidates for this unprecedented role, marking the first time a position solely focused on cryptocurrency has been created at the White House.
However, Bloomberg notes that the exact nature of this position, whether it will be a senior staff role or a 'crypto czar' overseeing federal policy and regulation, remains uncertain.
Industry proponents are pushing for the new role to maintain direct lines of communication with Trump, emphasizing the importance of having a strong voice in the administration to represent the interests of digital assets.
In his campaign, Trump actively engaged with the cryptocurrency community and promised a more favorable stance towards the industry, which could lead to greater adoption and approval of new investment vehicles beyond Bitcoin and Ethereum.
The president-elect has also expressed intentions to dismiss current SEC Chairman Gary Gensler, who has a track record of managing through enforcement, and to establish a new presidential advisory council focused on digital assets.
Interestingly, Bloomberg revealed on Wednesday that unnamed industry representatives are currently positioning themselves for potential roles on this board.
Meetings with industry leaders
Discussions about the proposed cryptocurrency role include considering appointing an individual to lead a small staff team serving as a bridge between Congress, the White House, and regulatory agencies such as the SEC and the Commodity Futures Trading Commission (CFTC).
This location is believed to play a significant role in shaping cryptocurrency policy and fostering communication between various government agencies. However, no further information has been provided on this matter or any official statement from the transition team of the 47th President of the United States.
Trump's involvement in the digital asset space includes multiple meetings with executives from Bitcoin mining companies and cryptocurrency exchanges, as well as a speech at the national Bitcoin conference in July.
Bloomberg also disclosed that in recent days, cryptocurrency allies have visited Trump's Mar-a-Lago resort, where members of the transition team are conducting interviews and discussing personnel matters.
Among those reportedly meeting with Trump is Brian Brooks, the former executive at Coinbase and Binance.US, who is also being considered for the position of SEC chairman.
Additionally, Bitcoinist reports that Brian Armstrong, CEO of Coinbase, spoke with Trump this week, highlighting the administration's outreach to top figures in the digital asset market.