President-elect Donald Trump Is Now Considering a Crypto Role in White House

Key Points:

• President-elect Donald Trump’s team is considering creating a dedicated White House position to oversee cryptocurrency policy.
• Trump has pledged to scale back regulations, replace SEC Chair Gary Gensler, and establish a cryptocurrency advisory council.

Bloomberg reported that the digital asset industry is in talks with President-elect Donald Trump's transition team about a new White House position aimed at crypto policy.

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President-elect Donald Trump Pews to Bring Pro-crypto Reforms

The potential role, which would be the first of its kind, comes as the reach of the crypto industry grows at the beginning of President-elect Donald Trump's presidency.

The team has begun to consider candidates for the position, though it's not yet clear whether it will be a senior White House staff role or more of an informal "crypto czar." The push by within-industry advocates is for a direct line to Trump in search of a central figure to oversee the policy and regulation of cryptocurrencies across the federal government.

On the campaign trail, Trump was a crypto-friendly candidate who railed at times against sitting SEC Chair Gary Gensler, promising to crack down hard on digital assets and roll back regulations. Trump promised to establish a new cryptocurrency advisory council—something many are now clamouring to join.

Crypto Executives Meet Trump as Transition Talks Begin

This summer, President-elect Donald Trump met with Bitcoin mining executives and leaders of several crypto exchanges. He even gave a speech at a Bitcoin conference in July, further signalling that he's friendly to the industry. Trump himself has ties to crypto, having recently launched his fourth collection of nonfungible tokens (NFTs) and helping to start a new venture, World Liberty Financial.

Allies in the space of cryptos have been travelling to Trump's Mar-a-Lago estate for meetings as part of the ongoing discussions. Those have included former Coinbase and Binance executive Brian Brooks and Coinbase CEO Brian Armstrong, who both recently met with Trump as the search for candidates continues.