【Former CFTC Chairman Expected to Become the First "Crypto Czar", Says Crypto is a "Major Priority" for Trump Administration】

According to An Shouzheng, former CFTC Chairman Chris Giancarlo is a strong contender for the position of the United States' first "Crypto Czar". President Trump is considering establishing this new role, which may oversee the $30 trillion blockchain industry. Giancarlo, who is known as "Crypto Dad" for his efforts to advance clear regulatory work during his two-year term (including paving the way for Bitcoin futures to be traded on U.S. exchanges), stated in an interview on Wednesday that he has declined positions at the CFTC and the U.S. SEC. "Trump has laid out a specific set of initiatives to make the U.S. the global capital of crypto," Giancarlo said, referring to Trump's speech at the Bitcoin 2024 conference in Nashville in July. He mentioned that this includes "establishing a strategic reserve for Bitcoin, forming a cryptocurrency committee, and ensuring people have the ability to self-custody their wallets." In other areas, he spoke about tax exemptions on capital gains for domestic cryptocurrency earnings, ending the de-banking of cryptocurrencies (also known as "Choke Point 2.0"), and new rules and regulations through the CFTC and SEC, as well as stablecoin legislation. Giancarlo, a key member of Trump's transition team, added that cryptocurrency will be a "major priority" for the new administration. While Trump has been a skeptic of cryptocurrencies in the past, he has maintained good relationships with industry insiders during his bid for re-election over the past year and made many commitments to improve the outlook for the U.S. cryptocurrency industry. "In terms of candidates, they are usually less specific. I think Trump is very specific about what he is going to do," he said, noting that Trump is surrounded by advocates for cryptocurrency, such as the head of the Department of Efficiency, Elon Musk, and Vivek Ramaswamy.