The president-elect of the United States, Donald Trump, has been shaping the team that will govern the United States with him. In this sense, according to information from Bloomberg, Trump is considering creating a new position in the White House dedicated exclusively to Cryptocurrency policy.
Recall that Trump supported the crypto industry during the election campaign, promising to turn the United States into the “cryptocurrency capital of the world” and fire the current chairman of the Securities and Exchange Commission, Gary Gensler. Likewise, reduce regulation and create a new presidential advisory council for crypto assets.
Donald Trump’s team is holding discussions with the digital asset industry about whether to create a new White House post solely dedicated to cryptocurrency policy, sources say https://t.co/Mp8Rk8QRnn
— Bloomberg Crypto (@crypto) November 20, 2024
Now, according to Bloomberg, the position would be the first in the White House dedicated exclusively to cryptocurrencies and could report directly to Donald Trump. Highlighting the influence of the nascent industry on the incoming administration.
The future has arrived: First official position to supervise cryptocurrencies
According to people familiar with the transition efforts, Trump’s team is holding talks with the crypto industry about the possibility of creating a new position in the White House dedicated exclusively to cryptocurrency policies. They are also reported to be evaluating potential candidates, including at Trump’s Mar-a-Lago residence.
Specifically, they stated: “It is unclear whether the position will be a White House staff position or a cryptocurrency czar.” In other words, Washington slang for a key person to oversee policy and regulation across the federal government.
In fact, according to the source, among the proposals for the new position dedicated to cryptocurrencies is the creation of a coordinator to serve as a bridge between the legislative branch, the executive branch and financial regulators such as the SEC and the Futures Trading Commission. of Commodities (CFTC), thus facilitating a more coordinated government response to the challenges and opportunities posed by this sector.
Mar-a-Lago: The birthplace of future crypto regulators?
As a curious fact, after the conversations at Trump’s private club, Mar-a-Lago, a possible candidate would be former Coinbase Global Inc. and Binance.US executive, Brian Brooks, who is also a possible candidate for the presidency. of the SEC.
Likewise, the other possible candidate would be the CEO of Coinbase Global Inc. Brian Armstrong, who also spoke with Trump.
Finally, the potential new team member is expected to not only lead, but also skillfully navigate a complicated web of relationships. In itself, mediating between interested parties, with the aim of finding consensual solutions in a highly regulated environment.
I close with this phrase from Ralph Waldo Emerson: «Every revolution began as a thought in the mind of a man. And when that thought arises in another man, it becomes the key to that time.
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