As a seasoned cryptocurrency investor with over a decade of experience navigating the ever-evolving digital asset market, I find myself both excited and cautiously optimistic about President-elect Donald Trump’s plans to create a White House position dedicated entirely to cryptocurrency policy.
The newly elected President Donald Trump is contemplating the establishment of a unique White House role specifically focused on shaping the nation’s policy regarding cryptocurrencies. This announcement sparked excitement within the market, causing Bitcoin (BTC) to reach an unprecedented high of $97,862.
The position would be the first-ever crypto-specific White House post, highlighting Trump’s dedication to pro-crypto policy and the significance of crypto to the president-elect’s administration.
Trump Takes Steps to Make the US the World’s Crypto Capital
Based on Bloomberg’s reports, there are discussions within Donald Trump’s team about establishing a brand-new position in the White House specifically dedicated to cryptocurrencies. They are meeting with industry leaders to decide if this role is essential for their administration and are currently considering suitable candidates for it. According to Bloomberg, this role would primarily deal with formulating policies related to digital currencies and might directly report to President Trump.
In a recent election, Donald Trump emerged victorious against Kamala Harris, earning him the title of the 47th President of the United States. His campaign focused on making the U.S. a global leader in cryptocurrency and stopping the ongoing regulatory scrutiny that has been affecting the sector.
It remains undecided whether the position will resemble a czar-like or White House staff role, but its responsibilities would primarily involve liaising with regulatory bodies like the SEC and CFTC. The aim is to streamline policies across federal departments by facilitating communication between these key agencies.
A Pledge to Reshape Crypto Policy
Trump gained favor among Americans by promising to transform the nation into a leading hub for cryptocurrency, aiming to make the U.S. the global capital of this digital economy. To accomplish these objectives, Trump declared his intention to remove Gary Gensler as SEC head, ease regulatory barriers that are currently hindering growth in the sector, and establish a presidential advisory panel specializing in digital assets. Key figures within the industry, such as Coinbase CEO Brian Armstrong and former Coinbase executive Brian Brooks, have expressed interest in joining this advisory group and reportedly met with Trump on November 19, according to Bloomberg’s reports.
Ever since word got out about Trump’s proposals, Bitcoin (BTC), the global leader in digital assets, has smashed its old record high, climbing to an astonishing $97,862.
Cardano Founder Endorses Brian Armstrong for Crypto Czar
Charles Hoskinson, creator of Cardano, publicly endorsed Brian Armstrong for the position of a leading figure in cryptocurrency. In a lengthy social media message, Hoskinson stated that Armstrong has been a significant player in the crypto world and praised his resilience against regulatory challenges as a key qualification for this role.
Hoskinson said:
Regarding the suggestion of appointing a Crypto-Leader at the White House, I believe it’s crucial that this position be occupied by an individual who is impartial, familiar with all relevant protocols, and possesses a comprehensive understanding of the unique aspects of cryptocurrency. Additionally, they should be well-informed about the mistakes made by the current US government under President Biden.
Adding;
Among all the potential candidates in our field, I strongly believe that none stand out quite like Brian Armstrong for this position.
1) Coinbase, a key player in the cryptocurrency field, has faced the unjust strategies of a regulatory-focused government. However, it’s capable of forging a wide alliance to unite the industry and rally the government towards meaningful actions such as creating new regulations and passing relevant laws.
Recently, the creator of Cardano has disclosed his intentions to influence U.S. cryptocurrency regulations during the Trump administration.
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2024-11-21 13:09