Former President Donald Trump is creating a crypto advisory council to ensure that the United States takes a leading role globally in the cryptocurrency sector.
A Step Toward a Crypto-Friendly U.S.
During his campaign, Trump promised to establish a crypto-friendly administration, signaling significant policy changes for the cryptocurrency industry. The new council would ensure the U.S. remains at the forefront of the digital asset revolution. It is expected to be housed within the National Economic Council or a similar executive body. Leading U.S. crypto companies like Ripple, Kraken, and Circle are vying for positions on the council.
Bridging the Gap Between Government and Crypto Industry
The primary goal of the council is to foster stronger relationships between the cryptocurrency sector and federal agencies like the SEC and CFTC. These agencies will cooperate to create a more unified and transparent regulatory framework for digital assets. A key mandate is to oversee the establishment of a U.S. Bitcoin reserve.
Industry Leaders Eyeing Key Positions
As the council is formed, numerous prominent industry figures are keen to take positions. This interest highlights the importance of having representation in policy discussions from companies such as Coinbase and Andreessen Horowitz. Additionally, a 'crypto czar' role might be created to manage policy efforts across federal agencies.
The formation of the crypto advisory council marks a pivotal move for the U.S. as it seeks to establish itself as a leader in digital asset regulation and the global cryptocurrency market.
