Donald Trump’s transition team is deep in talks with industry insiders about setting up a White House position focused entirely on crypto.
If the plan moves forward, this would be the first time the White House creates a job solely for cryptocurrency policy. Sources say Trump’s team is already reviewing candidates for what’s being called a “crypto czar,” though the exact details of the role are still unclear.
The job could involve overseeing crypto regulation across agencies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Crypto industry advocates are pushing for the role to report directly to the Oval Office.
Trump’s crypto vision: Less regulation, more influence
Trump has made his stance on crypto regulation loud and clear. On the campaign trail, he slammed current SEC Chair Gary Gensler for his crackdown on the industry. Trump vowed to fire Gensler and roll back regulations that he claims are stifling innovation.
To back this up, he’s floated the idea of forming a presidential advisory council specifically for crypto. This council, insiders say, is already the focus of heavy lobbying, as industry players jockey for a seat at the table.
The president-elect spoke at a Bitcoin conference in July and met with executives from mining firms and crypto exchanges throughout the summer. Trump has also dabbled in the industry personally. He recently launched his fourth collection of NFTs and co-founded a new venture called World Liberty Financial.
The proposed crypto czar role might lead a small team and work as a go-between for Congress, federal agencies, and the White House. Sources say Mar-a-Lago has turned into a revolving door for crypto allies pitching ideas and candidates for this new position.
The contenders and industry reactions
Brian Brooks, former Coinbase and Binance.US executive, has reportedly emerged as a key figure in these discussions. Brooks, who has also been floated as a possible replacement for Gensler at the SEC, met with Trump at Mar-a-Lago earlier this week.
Coinbase CEO Brian Armstrong also joined the conversations, fueling speculation about who might land the role. Ethereum and Cardano co-founder Charles Hoskinson has weighed in, calling for a candidate with a deep understanding of blockchain’s potential and its challenges.
“There is only one candidate that I think stands out in our industry for this role, and that’s Brian Armstrong,” Charles said. He praised Brian for navigating the crypto industry through what he described as “unfair government tactics” and suggested that the Coinbase CEO could unite the industry and push for real regulatory reform.
Charles himself has been busy rallying support for legislative change. He revealed plans to launch Operation Baseline, a project aimed at surveying the U.S. crypto industry to uncover inefficiencies and missed opportunities.
Charles said the findings will be handed over to lawmakers and the future crypto czar, whoever that may be. “The time has come to get this done so that we all can get back to work changing the world,” he added.
Meanwhile, Trump’s private club has become the center of activity as crypto allies, executives, and potential appointees gather for meetings. The crypto industry sees Trump’s presidency as a chance to rewrite the rules in their favor.
As Charles puts it: “The president’s goal is to make America the best place in the world to start and run a cryptocurrency and blockchain business. We as an industry have to come together to make that happen. There are no excuses anymore. The time has come to get this done so that we all can get back to work changing the world.”
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