President Joe Biden rehired Carole House, a key figure who helped create the administration’s cryptocurrency policy two years ago. House, who previously served as a National Security Council director, is now a special adviser on cybersecurity and critical infrastructure policy.
House co-authored President Biden’s 2022 executive order on digital assets, which reportedly aimed to ensure the responsible development of cryptocurrencies.
In a LinkedIn post announcing her return, House expressed her excitement, saying:
“Honoured to have been called to return to service of absolutely critical mission sets that are necessary to shape the future of secure and trustworthy digital economies.”
Before her initial stint at the White House, she held advisory roles at the Commodities and Futures Trading Commission and the National Security Council.
More recently, she was an “executive in residence” at Terranet Ventures, a venture firm focused on crypto, and advised The Digital Dollar Project, a non-profit exploring central bank digital currencies (CBDCs).
Known for her pragmatic approach, House has been a vocal advocate for the potential of blockchain technology while emphasizing the need for robust enforcement to prevent illicit activities.
“Adoption for lots of good economic cases are happening internationally,” she noted during the 2024 Consensus conference, but she also stressed the need for “more enforcement.”
While Biden is bringing back his crypto guru, Trump is over there doing… well, Trump things. Meanwhile, Biden’s team is playing it cool. They’re reversing stances on Ethereum ETFs and supposedly planning to attend crypto industry meetings.
Under Biden, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have aggressively pursued legal actions against major crypto actors like Binance and Coinbase.
This approach has been criticized for creating uncertainty and stifling innovation within the industry. Meanwhile, Trump’s deregulatory stance has historically led to increased market optimism.
For instance, the NFIB Small Business Optimism Index soared following his 2016 election win due to anticipated deregulation. A similar market reaction is expected if he wins the 2024 election, with potential bullish impacts on the crypto market.
Jai Hamid
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