News Scrap

Key Takeaways

Trump’s team is considering creating a White House position dedicated to crypto policy.
Industry advocates are pushing for this crypto role to have direct access to the President.

President-elect Donald Trump’s transition team is discussing the creation of the first-ever White House position dedicated to crypto policy, according to a Bloomberg report.

The team is currently vetting potential candidates, according to people familiar with the transition efforts.

The role could be a senior White House staff position to coordinate policy and regulation across federal agencies, though its exact structure remains undecided.

Industry advocates are pushing for the position to have direct access to Trump, the report explained.

The discussions include plans for the role to manage a small staff and serve as a liaison between Congress, the White House, and regulatory agencies with crypto oversight, including the SEC and the CFTC.

Trump has shown support for the crypto industry during his campaign, pledging to dismiss SEC Chair Gary Gensler and establish a new crypto presidential advisory council.

Former SEC attorney Teresa Goody Guillen has reportedly made the shortlist for the new SEC chair.

The president-elect has engaged with the crypto sector through multiple meetings, including a recent one with Coinbase CEO Brian Armstrong, as well as earlier discussions with Bitcoin mining companies and crypto exchanges over the summer.

He has also met with several crypto-related figures, including Brian Brooks, former CEO of Binance US and ex-legal boss of Coinbase, who is another potential candidate for the SEC chair role.

Trump has also ventured into crypto businesses, launching World Liberty Financial, and his social media group was reportedly in discussions to acquire the crypto exchange Bakkt.