Donald Trump’s re-election is bringing major changes to the US cryptocurrency industry. Chris Giancarlo, former chairman of the Commodity Futures Trading Commission (CFTC) and known as “Crypto Dad,” is now a leading candidate to become Crypto Czar – a new role expected to be created in the White House.

The Role of the “Crypto Czar” – A Boost for Blockchain and Cryptocurrencies

The Crypto Czar position, which is being proposed for the first time, will focus on promoting clear regulations for the $3 trillion digital asset market and supporting the development of blockchain innovation.

During his tenure at the CFTC (2017–2019), Chris Giancarlo oversaw the launch of the first Bitcoin futures contract and co-founded the Digital Dollar Project to explore the possibility of issuing a digital currency by the U.S. central bank (CBDC).

With experience and support from the community, Giancarlo is seen as a key player in shaping the future of the cryptocurrency industry.

Cryptocurrency Vision Under Donald Trump

President-elect Donald Trump emphasized the ambition to make the U.S. a leading nation in the blockchain and cryptocurrency industry. The Crypto Czar position will play a strategic role in:

  • Streamlining regulations for the $180 billion stablecoin.

  • Advancing cryptocurrency-friendly policies to create a competitive global environment.

  • Establishing the President's Crypto Advisory Council to seek consensus among federal agencies and blockchain businesses.

Additionally, the Trump administration considered the possibility of establishing Bitcoin reserves as part of a long-term economic strategy.

SEC and Major Changes in the Industry

The context of the Crypto Czar appointment also coincides with news that Gary Gensler, SEC Chairman, will resign in January 2025.

During his tenure, Gensler faced criticism for his tough approach to cryptocurrency.

Nevertheless, Chris Giancarlo has made it clear that he does not intend to become the SEC Chairman, instead focusing on a new role to promote more effective cryptocurrency policy.

"I am willing to take on this responsibility to move the U.S. cryptocurrency industry forward," Giancarlo affirmed.

A Major Turning Point for the Cryptocurrency Industry

The creation of the Crypto Czar role along with innovative policies is opening up significant opportunities for the blockchain and digital asset industry.

With Chris Giancarlo at the helm, can the U.S. rise to become the global center for cryptocurrency? The answer will soon be clear under the new administration.