The incoming administration of US President-elect Donald Trump is exploring the creation of a White House role dedicated to cryptocurrency policy, signaling a potential shift in the federal government’s approach to digital assets. Sources familiar with the transition efforts disclosed that discussions are underway about appointing a “crypto czar” to oversee policy and regulation in this burgeoning sector.
If established, this would mark the first cryptocurrency-specific position within the White House, highlighting the growing influence of the digital asset industry. While the precise structure of the role remains uncertain, proponents are advocating for it to be a senior staff position with a direct connection to the President.
The Trump transition team has yet to comment on the matter.
Industry Advocates Push for Influence
Trump has been vocal about his support for the cryptocurrency industry, pledging during his campaign to remove current Securities and Exchange Commission (SEC) Chairman Gary Gensler. Gensler has taken a stringent regulatory stance on the industry, a move that Trump has criticized. Trump also proposed creating a cryptocurrency presidential advisory council to provide guidance on related policies.
The digital asset community sees the potential “crypto czar” role as an opportunity to reshape the regulatory landscape. Advocates for the industry are lobbying for the position to bridge the gap between Congress, the White House, and regulatory agencies like the SEC and the Commodity Futures Trading Commission (CFTC).
High-Level Meetings with Industry Leaders
Over the summer, Trump met with executives from Bitcoin mining firms and cryptocurrency exchanges, solidifying his ties with the sector. In July, he addressed a Bitcoin conference, further underlining his commitment to the digital currency space.
In recent days, key figures in the industry have visited Trump’s private Mar-a-Lago club, where transition team discussions are taking place. Notably, Brian Brooks, a former executive at Coinbase Global and Binance US, met with Trump on November 19. Brooks is also reportedly being considered as a candidate for SEC Chairman. Coinbase CEO Brian Armstrong has also had discussions with Trump this week, although the company has declined to comment on the meeting.
Trump’s personal involvement in the cryptocurrency world extends beyond policy. Recently, he launched his fourth collection of non-fungible tokens (NFTs) and introduced a new venture, World Liberty Financial. These endeavors have further bolstered his rapport with the industry.
A Role with Broad Responsibilities
If approved, the “crypto czar” would lead a small team and act as a critical liaison between the White House, Congress, and various federal agencies. The role is expected to streamline cryptocurrency policy, ensuring a unified approach across government bodies.
For the cryptocurrency sector, the establishment of such a role could herald a new era of reduced regulatory hurdles and enhanced federal collaboration. As Trump prepares to assume office, all eyes are on how his administration will handle the evolving cryptocurrency landscape.
