According to Bloomberg, Trump’s transition team is actively discussing the creation of a “crypto czar” role, a permanent White House position designed to oversee cryptocurrency and blockchain-related issues. This role, if established, could act as a bridge between Congress, regulatory agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and the White House itself. The advisor would coordinate federal crypto policy, advise on regulatory decisions, and advocate for innovation-friendly frameworks.

The position may also oversee a small staff tasked with ensuring streamlined communication between various stakeholders in the cryptocurrency ecosystem, including lawmakers and industry leaders. However, details about the role, including its precise duties and authority, remain unclear.

Candidates Under Consideration

Coinbase and Binance.US alumni Brian Brooks

Reports suggest that Trump’s team is already vetting candidates for this unprecedented role. Among the names speculated is Brian Brooks, a former executive at Coinbase and Binance.US, who has been a prominent advocate for crypto-friendly regulations. Brooks is also being considered for the SEC chairmanship, a move that would align with Trump’s stated intention to replace current SEC Chair Gary Gensler. Other potential candidates, such as crypto lawyer Teresa Goody Guillén, are also rumored to be under review.

The President-elect’s outreach to the cryptocurrency community has been extensive. Recently, Trump held discussions with Coinbase CEO Brian Armstrong and other industry leaders at his Mar-a-Lago estate. These meetings underscore his administration’s apparent commitment to understanding and integrating blockchain technologies into national policy.

 

A Bold Step for Crypto Regulation

The proposed crypto advisor role aligns with Trump’s broader goals of reshaping cryptocurrency regulations in the United States. During his campaign, Trump pledged to dismantle what he described as anti-crypto initiatives and to establish policies promoting Bitcoin and other digital assets. His agenda includes establishing a Bitcoin Reserve to support national adoption, replacing key financial regulators with pro-industry advocates and creating a presidential advisory council dedicated to digital assets.

David Bailey, CEO of Bitcoin Magazine and an informal advisor during Trump’s campaign, has championed the Bitcoin Reserve as “the #1 most urgent and transformative policy” for ensuring cryptocurrency growth. Trump’s campaign rhetoric suggests a comprehensive overhaul of federal crypto policy, aiming to position the U.S. as the world leader in blockchain innovation.

Market and Industry Reactions

The cryptocurrency industry has largely welcomed Trump’s plans, viewing them as a potential catalyst for widespread adoption and regulatory clarity. Bitcoin’s price recently surged past $94,000, reflecting optimism among investors about the incoming administration’s pro-crypto stance.

Industry stakeholders have voiced support for a centralized crypto advocacy role within the White House, emphasizing its importance in bridging the gap between federal governance and the rapidly evolving digital asset space.

Howard Lutnick, CEO of Cantor Fitzgerald and a known cryptocurrency supporter, has also been nominated as Trump’s Secretary of Commerce. This nomination is viewed as a strategic move to bolster the administration’s credibility with the financial and blockchain sectors.