'Bitcoin President' Trump Pushes to Establish Cryptocurrency Dedicated Position at the White House
Reviewed by the Transition Team
The transition team of President-elect Donald Trump, who has announced cryptocurrency-friendly policies, is reportedly considering establishing a dedicated cryptocurrency position within the White House.
On the 20th (local time), Bloomberg reported that Trump’s transition team is discussing this plan with the digital asset industry.
This would be the first time a dedicated cryptocurrency position is created within the White House, which analysts interpret as a sign of the influence the cryptocurrency industry will have during Trump’s second term.
According to Bloomberg, the transition team has discussed the role of the cryptocurrency position to lead a small group of aides and serve as a liaison among Congress, the White House, the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and other relevant agencies. It remains unclear whether this position will be a senior White House aide or a "control tower" overseeing cross-government policies.
Earlier, during his candidacy, Trump pledged to be a "pro-Bitcoin president" who actively fosters the cryptocurrency industry. He promised to dismiss SEC Chairman Gary Gensler, who sought to regulate digital assets, and to establish a presidential advisory committee on cryptocurrencies. Cryptocurrency advocates are currently competing to serve as advisors and have even visited Trump’s Mar-a-Lago residence in Florida, where the transition team is based.
Brian Brooks, former CEO of Binance’s U.S. branch and a candidate for SEC chairman, met with President-elect Trump the day before. Brian Armstrong, CEO of Coinbase, also had a face-to-face meeting with Trump this week.
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Since Trump’s election was confirmed, Bitcoin, the leading cryptocurrency, has continued its sharp rise. According to cryptocurrency exchange Coinbase, as of 3:59 p.m. Eastern Time, Bitcoin was trading at around $94,274, up 1.84% from the previous trading day.
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