Former President Donald Trump is forming a crypto advisory council aimed at advancing the U.S. in the cryptocurrency field. The council will collaborate with Congress and federal agencies to optimize crypto regulations.
A Step Toward a Crypto-Friendly U.S.
During his campaign, Trump promised to establish a crypto-friendly administration and make significant changes in the cryptocurrency sector policy. This new advisory council is tasked with ensuring the U.S. remains at the forefront of the digital asset revolution. The council is expected to operate within the White House’s National Economic Council or a similar body, bringing in industry experts to provide input on crypto regulations.
Bridging the Gap Between Government and Crypto Industry
One of the primary goals of the crypto advisory council is to build stronger connections between the crypto industry and federal agencies like the SEC, CFTC, and the Treasury. These agencies will work together to create a more streamlined and transparent regulatory framework. A key element of the council's mandate is overseeing the creation of a U.S. Bitcoin reserve to strengthen the country's position in the global cryptocurrency market.
Industry Leaders Eyeing Key Positions
As the council takes shape, several high-profile figures in the industry are seeking positions. Coinbase CEO Brian Armstrong, Circle CEO Jeremy Allaire, and venture firms like Andreessen Horowitz are interested in participating in the council’s work. Their involvement would ensure that the voices of some of the most influential players in the industry are heard during policy discussions. Trump’s team is reportedly considering the creation of a 'crypto czar' role to lead crypto policy efforts.
The formation of the crypto council under Donald Trump's leadership could significantly impact the regulation and growth of the cryptocurrency sector in the U.S., securing the country's leadership in the digital economy.
