In summary
- Donald Trump and his team discussed creating a White House position focused on Cryptocurrency policy, according to Bloomberg.
- The new position would be the first dedicated exclusively to cryptocurrencies in the White House.
- Trump met with key industry figures, such as Brian Brooks and Brian Armstrong, while considering this possibility.
Donald Trump and his transition team are actively discussing the possibility of creating a full-time position in the White House focused on cryptocurrency policy, according to a report published Wednesday in Bloomberg.
The role, if created, would constitute the first job dedicated to cryptocurrencies at the White House level.
Presidents typically appoint a “czar” to focus on specific, high-priority issues, ranging from climate change to border security. Placing a cryptocurrency czar in the Trump White House would give the digital asset industry an advantage it has not yet enjoyed: a point person to discuss the industry’s priorities, who would always have the president’s attention.
According to Wednesday’s report, although a decision has not yet been made on creating such a role, members of Trump’s team have discussed the possibility with several industry leaders.
On Tuesday, Trump reportedly met with former Binance.US CEO Brian Brooks at the president-elect’s Mar-a-Lago estate in Palm Beach, Florida. Brooks, the former acting Comptroller of the Currency and former Chief Legal Officer at Coinbase, is rumored as a possible candidate to lead the US Securities and Exchange Commission (SEC).
Earlier this week, Trump also spoke with Coinbase CEO Brian Armstrong, according to the report.
During his presidential campaign, Trump made a number of cryptocurrency-related promises, ranging from ending the SEC’s “crypto crackdown” to establishing a federal strategic reserve of Bitcoin.
He has yet to appoint any cryptocurrency advocates to positions in his administration that have significant weight in regulating the industry.
On Tuesday, Trump appointed Howard Lutnick, a well-known supporter of Bitcoin and Tether, to lead the US Department of Commerce.
However, the Secretary of Commerce has little or nothing to do with regulating assets like cryptocurrencies, unlike the position of Treasury Secretary, which Lutnick reportedly coveted.
Edited by Andrew Hayward
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