U.S. President Donald Trump announced the appointment of Bo Hines as the Executive Director of the Presidential Advisory Council on Digital Assets, which Trump referred to as the "Cryptocurrency Council," in a statement he made on the Truth Social platform.
Hines, a former college football player and the Republican candidate in 2022 for North Carolina's 13th congressional district, takes on this role with the support he received from pro-cryptocurrency political action committees (PACs) during his congressional campaign. Although his political candidacy was unsuccessful, his new role signals Trump's intention to promote innovation and regulation related to cryptocurrency.
"In his new role, Bo will work with David Sacks to promote innovation and growth in the digital asset space, while ensuring industry leaders have the necessary resources to succeed," Trump said. "Together, they will create an environment where the industry can thrive and continue to be the foundation for our nation's technological progress."
David Sacks, who was previously appointed by Trump to oversee cryptocurrency and artificial intelligence (AI) issues at the White House, will work with Hines to shape the administration's vision for digital assets.
Trump's focus on digital assets comes amid several economic appointments. Earlier today, he appointed former Treasury Department official Stephen Miran as the chairman of his Economic Advisory Council. Miran, who has attracted attention for his stance on financial regulation, recently voiced his concerns on The Bitcoin Layer podcast, stating: "I think financial regulation is too burdensome and prevents banks from lending as much as they want to the economy. And I think sometimes that can stifle innovation in areas like [the cryptocurrency economy]."
