Image source: BlockCat
(Bloomberg) citing insiders reported that President-elect Donald Trump's team is consulting with the digital asset industry, discussing whether to establish a new position in the White House specifically responsible for cryptocurrency policy.
After the news broke, the price of Bitcoin surged, breaking the $97,000 mark for the first time.
Insiders stated that Trump's team is reviewing candidates for this position. If such a position is established, it will be the first White House position specifically targeting the cryptocurrency sector, highlighting the influence of the cryptocurrency industry in the new administration.
According to insiders, it is unclear whether a senior White House staff position or the so-called 'Crypto Czar' will be established, which refers to an important official designated by Washington to oversee federal government policies and regulatory matters. They indicated that advocates of the cryptocurrency industry are pushing for the establishment of this position to have a direct communication channel with Trump.
Trump's transition team did not respond to requests for comment.
During the campaign, Trump embraced the cryptocurrency industry, vowing to fire SEC Chairman Gary Gensler on his first day in office for cracking down on the digital asset industry. Trump also promised to reduce regulation related to cryptocurrencies and establish a new Presidential Advisory Committee on cryptocurrency. According to several insiders, cryptocurrency advocates are striving for these positions.
During the summer, Trump met multiple times with Bitcoin miners and executives of cryptocurrency exchanges, and in July, he delivered a speech at the annual Bitcoin conference. Trump himself has several cryptocurrency businesses, including multiple series of NFTs, and has endorsed the DeFi project 'World Liberty Financial' (WLFI).
Insiders say that discussions regarding the cryptocurrency position include this Crypto Czar leading a small group of staff and serving as a liaison between Congress, the White House, and various agencies with jurisdiction over cryptocurrencies (including the SEC and CFTC).
Cryptocurrency allies have also recently visited Trump's private club Mar-a-Lago in Florida, where the transition team is discussing personnel matters and interviewing potential candidates.
Insiders reveal that former executives of cryptocurrency exchanges Coinbase and Binance.US, Brian Brooks, met with Trump on Tuesday, and he is also a potential candidate for SEC Chairman. Additionally, Coinbase Global CEO Brian Armstrong also spoke with Trump this week. Coinbase declined to comment on this.
[Disclaimer] The market has risks; investment should be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Invest at your own risk.
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'Trump Supports the Crypto Sphere! Considering Appointing a 'Crypto Czar', Who Are the Popular Candidates?' This article was first published in 'Crypto City'
