Trump's cabinet nominees: potential boosters for cryptocurrency?
Donald Trump's recently announced cabinet nominees have attracted widespread attention. This issue of Edge will focus on significant nominees who may bring positive impacts to the cryptocurrency industry.
@howardlutnick (Transition Team Leader and Secretary of Commerce nominee)
First, let's look at Howard Lutnick, who is considered the leader of Trump's transition team and also the CEO of Cantor Fitzgerald. He is a publicly pro-cryptocurrency entrepreneur, currently nominated for the future Secretary of Commerce. He was also previously considered for the position of Secretary of the Treasury.
Under Lutnick's leadership, Cantor Fitzgerald has been actively exploring the blockchain and digital asset space. For example, Cantor Fitzgerald has served as the custodian for Tether's bond portfolio and recently made a strategic investment in Tether.
Scott Bessent (Secretary of the Treasury nominee)
As a senior hedge fund manager, Scott Bessent has a deep understanding of financial innovation and has repeatedly expressed his support for cryptocurrency. He has stated, 'Cryptocurrency represents freedom, and cryptocurrency will exist in the long term.'
Compared to the previous popular candidate Henry Paulson, Bessent is clearly more friendly towards the cryptocurrency industry. Paulson publicly criticized cryptocurrency in 2021, claiming it has no intrinsic value and accusing it of excessive price volatility.
@TulsiGabbard (Director of National Intelligence nominee)
Tulsi Gabbard is nominated as the Director of National Intelligence, which may have significant implications for the cryptocurrency industry. She has long advocated for privacy protection and decentralization.
Additionally, Gabbard has direct connections to cryptocurrency. She revealed in 2018 that she purchased @ethereum (ETH) and @litecoin (LTC) during the 2017 cryptocurrency bull market. She has also publicly supported Bitcoin multiple times, believing it is a tool for achieving financial sovereignty and an effective means against government overreach.
@RobertKennedyJr (Secretary of Health and Human Services nominee)
Robert F. Kennedy Jr. has publicly expressed his support for Bitcoin, believing it to be a powerful tool against the devaluation of fiat currency. Although his position is not directly related to the cryptocurrency industry, in a Trump administration, RFK Jr. is likely to become an ally rather than an opponent of cryptocurrency.
@PamBondi (Attorney General nominee)
Pam Bondi's nomination was proposed after @mattgaetz withdrew. Matt Gaetz previously stepped down from this position due to strong scrutiny within the Republican Party, which could be a potential loss for the cryptocurrency industry.
Matt Gaetz has long been a staunch supporter of personal privacy and has pushed through multiple pieces of legislation supporting cryptocurrency, including the (FIT21 Act), (SAB121 Act), and the (Anti-CBDC Surveillance National Act). Additionally, he has publicly supported the pardon of Edward Snowden.
Pam Bondi is a former Attorney General of Florida, but she has not publicly indicated her stance on cryptocurrency. As a candidate for Attorney General, her policy direction remains unknown.
@michaelgwaltz (National Security Advisor nominee)
Michael Waltz is an active advocate for the development of the U.S. cryptocurrency industry. He has repeatedly emphasized the important role of cryptocurrency in enhancing economic competitiveness and technological independence, while also effectively limiting excessive government intervention.
Waltz's pro-crypto stance is also reflected in his legislative record, such as co-sponsoring the (Anti-CBDC Surveillance National Act) and voting in favor of SAB121 and FIT21.
@BrendanCarrFCC (FCC Chairman nominee)
Brendan Carr, currently the Republican leader of the Federal Communications Commission (FCC), is expected to take over as FCC Chair. Although Carr has not explicitly expressed his stance on Bitcoin or cryptocurrency, he is known for his firm anti-censorship position and support for technological innovation.
Under his leadership, the FCC may provide more support for the development of technology infrastructure in the cryptocurrency industry.
@HesterPeirce & Mark Uyeda (Potential candidates for SEC Chair)
Hester Peirce has been a steadfast supporter of clarifying regulations for digital assets. If she is nominated as SEC Chair, it could bring a more friendly policy environment for the cryptocurrency industry, reducing uncertainty and easing regulatory agencies' hardline stance towards cryptocurrencies. Peirce's appointment would undoubtedly be a major victory for the cryptocurrency industry, but rumors suggest she has already declined the possibility of this nomination.
Another candidate nominated for SEC Chair is current SEC Commissioner Mark Uyeda. He has been critical of the SEC's hardline policies towards cryptocurrency in recent years and has repeatedly called for clear and predictable regulatory rules.
Although these nominations have not yet been finalized, preliminary signs suggest that the cryptocurrency industry may welcome a more positive policy direction. It is worth noting that Trump's attitude towards China as the main competitor of the U.S. may further influence cryptocurrency policy.
Despite China's repeated bans on cryptocurrency activities, it still dominates the Bitcoin mining sector. Trump promised at the Bitcoin2024 conference to promote policies that would bring computing power back to the U.S., which could become a focus of future policies.
This article is collaboratively reprinted from: Deep Tide
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