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President-elect Donald Trump’s transition team is reportedly exploring the creation of a “crypto czar” role to oversee digital asset policy, with former Commodity Futures Trading Commission Chairman Chris Giancarlo emerging as a top contender.
This <a href="https://crypto.news/trumps-team-vets-for-first-white-house-crypto-role/" target="_blank" rel="noopener noreferrer nofollow">potential position</a> would mark the first time the White House has designated a senior official solely focused on cryptocurrency and blockchain innovation.
Giancarlo, nicknamed “Crypto Dad” for his support of the industry during his tenure at the CFTC, has expressed openness to the role. A Fox Business <a href="https://www.foxbusiness.com/politics/trumps-former-cftc-chair-eyed-crypto-czar-role" target="_blank" rel="noopener noreferrer nofollow">report</a> suggests that he is a serious candidate.
The position, still under consideration, would involve shaping regulatory frameworks to promote growth in the $3 trillion digital asset market, which includes cryptocurrencies like Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) and the $180 billion stablecoin sector.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/u-k-to-unveil-crypto-stablecoin-rules-early-next-year/"> U.K. to unveil crypto, stablecoin rules early next year </a>
<h3 class="wp-block-heading" id="strong-trump-s-crypto-friendly-rhetoric-as-gensler-retires-strong">Trump’s crypto-friendly rhetoric as Gensler retires</h3>
Throughout his campaign, Trump criticized the Biden administration’s approach to crypto regulation, vowing to dismiss SEC Chairman Gary Gensler on his first day in office. He also pledged to establish a presidential advisory council to advance crypto-friendly policies within his first 100 days.&nbsp;
The crypto czar, if appointed, could play a key role in this advisory council.
Giancarlo’s experience makes him a leading candidate. He chaired the CFTC from 2017 to 2019, overseeing the launch of the first Bitcoin futures contracts. He also co-founded the Digital Dollar Project, which explores a potential U.S. central bank digital currency, and currently advises blockchain firms and industry groups.
On November 21, Gary Gensler, the Chair of the U.S. Securities and Exchange Commission, announced that <a href="https://crypto.news/anti-crypto-gary-gensler-to-resign-from-sec-when-trump-takes-office/" target="_blank" rel="noopener noreferrer nofollow">he would resign</a> effective January 20, 2025. His resignation coincides with President-elect <a href="https://crypto.news/tag/donald-trump/" target="_blank" rel="noopener noreferrer nofollow">Donald Trump’s</a> inauguration.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/another-sec-loss-judge-rejects-rule-targeting-crypto-brokers/"> Another SEC loss: Judge rejects rule targeting crypto brokers </a>

Trump eyes former CFTC Chair Giancarlo for ‘Crypto Czar’ Role

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