The cryptocurrency market is speculating about the appointment of a potential “Crypto Czar” in the White House. This comes as President-elect Donald Trump considers creating the role of an advisor to guide federal policy on the blockchain industry.
Ethereum (ETH) co-founder and Cardano (ADA) founder Charles Hoskinson has proposed Coinbase CEO Brian Armstrong as the ideal candidate for the position. The proposal has sparked a lively debate within the crypto community.
Hoskinson's Vision for a Crypto Czar
In a post on X, Hoskinson emphasized the importance of appointing a neutral and knowledgeable person to the role. He highlighted the executive’s leadership at Coinbase, the largest cryptocurrency exchange in the US, as evidence of his ability to navigate regulatory challenges and foster innovation.
Regarding the idea of a Crypto Czar in the White House, I feel the role needs to be filled by someone who is neutral, works across all protocols, and has a deep understanding of why crypto is special, Hoskinson wrote.
The Cardano leader criticized the current U.S. administration under President Joe Biden for its regulatory stance. He accused them of “unfair tactics” and “regulation through enforcement.” In that vein, Hoskinson argued that Armstrong could unite the industry and lead legislative efforts to modernize the country’s regulatory framework.
He also shared his plans to directly assist lawmakers, leveraging his experience in helping Wyoming pass 31 crypto-friendly bills. Hoskinson announced “Operation Baseline,” an initiative by IOHK’s policy division aimed at identifying inefficiencies and opportunities in the American cryptocurrency industry.
Community reactions: support and criticism
Hoskinson's support for Armstrong has drawn mixed reactions. One X user, Maxime, expressed concerns about Armstrong's association with centralized entities.
“Personally, I don’t like the change because Brian is bringing centralization full swing into the crypto [industry]. Whether it’s technically through Base or by facilitating pension funds like BlackRock with custody,” Maxime argued.
This criticism reflects broader concerns about Coinbase’s growing influence. Some are concerned about the perceived alignment of its business model with traditional financial institutions (TradFi).
However, other voices in the crypto community see Armstrong as a pragmatic choice. Ed n’ Stuff, another commenter on X, supported the idea.
It's important that the czar is not seen as partisan, so that everyone accepts it (not favoring any chain/ecosystem). A founder of a large CEX who is involved in a little bit of everything makes sense, the user commented.
Binance or Coinbase with Trump?
This sentiment highlights Armstrong’s potential to attract a diverse range of stakeholders in the crypto space. Another potential candidate could be Brian Brooks, the former CEO of Binance US. Brooks also has a history of serving as the CLO of Coinbase.
Additionally, Brooks has extensive experience working at the intersection of cryptocurrencies and TradFi, making him a strong candidate. His tenure at the U.S. Office of the Comptroller of the Currency (OCC) was marked by initiatives to integrate digital assets into the banking system. These, among other achievements, have earned him respect across the industry.
Still, both Armstrong and Brooks bring distinct strengths to the table. Armstrong’s experience as a pioneer in the exchange space gives him a deep understanding of the market. Meanwhile, Brooks’ regulatory expertise positions him as a bridge between policymakers and the crypto industry.
Indeed, Trump’s consideration of a dedicated crypto advisor reflects the growing importance of digital assets in the global economy. Hoskinson believes this move presents a unique opportunity for the U.S. to position itself as a global leader in blockchain innovation. He called on the industry to unite around a shared vision.
The president's goal is to make America the best place in the world to start and run a cryptocurrency and blockchain business, Hoskinson said.
It remains to be seen whether more candidates will enter the race for a White House crypto czar. Regardless, this debate reflects the challenges of balancing innovation with regulation. While Armstrong’s selection would signal a commitment to growing the industry, it also raises questions about the role of centralization in a space rooted in decentralization.
The eventual nomination should help shape the trajectory of U.S. crypto policy in the coming years. Whether it’s Armstrong, Brooks, or another candidate, the decision will reflect how the incoming administration plans to address the complexities of the crypto economy while fostering innovation.
The article Coinbase CEO Should Be ‘Crypto Czar,’ Says Charles Hoskinson appeared first on BeInCrypto Brasil.
