Key Takeaways
- Trump is considering creating a Bitcoin-focused White House role.
- The role would mediate between federal agencies, Congress, and the president.
- Bitcoin has surged to record highs after Trump's election win.
President-elect Donald Trump’s transition team is reportedly discussing the creation of a new White House role dedicated solely to cryptocurrency policy, according to Bloomberg.
If implemented, this would be the first position of its kind in U.S. government.
Vetting candidates
Trump’s team is currently vetting candidates, including during meetings at Mar-a-Lago, Bloomberg noted, citing sources familiar with the discussions.
It remains unclear whether the role would be a White House staff position or a cryptocurrency czar” to coordinate efforts across federal agencies.
Advocates are pushing for the role to report directly to Trump.
Role responsibilities
The individual would manage a small team and act as a liaison between Trump, Congress, and regulatory bodies such as the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).
This comes amid Trump’s promises to support the Bitcoin industry, including firing SEC Chair Gary Gensler on his first day in office.
Industry figures
Key industry figures, including Coinbase CEO Brian Armstrong and former executive Brian Brooks, reportedly met with Trump on Nov. 19 to discuss Bitcoin policy.
Meanwhile, Summer Mersinger, a Republican CFTC commissioner with a pro-Bitcoin stance, is being considered to lead the CFTC.
Bitcoin price
Following Trump’s election win, Bitcoin has surged to record highs, approaching $100,000.
Shares of Coinbase also climbed above $300 for the first time since 2021, bolstered by expectations of a more cryptocurrency-friendly regulatory environment.
