Create

Donald Trump

Bitcoin

President Donald Trump

<p style="background-color:rgb(255, 255, 255);color:rgb(13, 13, 13);font-family:ui-sans-serif, -apple-system, system-ui, &quot;Segoe UI&quot;, Helvetica, &quot;Apple Color Emoji&quot;, Arial, sans-serif, &quot;Segoe UI Emoji&quot;, &quot;Segoe UI Symbol&quot;;font-size:16px;font-style:normal;font-weight:400;text-align:left">Former President Donald Trump is assembling a crypto advisory council to position the U.S. as a global leader in the cryptocurrency space.&nbsp;</p>
<p style="background-color:rgb(255, 255, 255);color:rgb(13, 13, 13);font-family:ui-sans-serif, -apple-system, system-ui, &quot;Segoe UI&quot;, Helvetica, &quot;Apple Color Emoji&quot;, Arial, sans-serif, &quot;Segoe UI Emoji&quot;, &quot;Segoe UI Symbol&quot;;font-size:16px;font-style:normal;font-weight:400;text-align:left">The council, expected to work closely with Congress and federal agencies, will focus on streamlining crypto regulations, creating a strategic Bitcoin reserve, and coordinating policy efforts across government departments, per <a href="https://www.reuters.com/technology/crypto-industry-jockeys-seats-trumps-promised-council-2024-11-21/"><i>Reuters</i></a>.</p>
<h2 style="margin-left:0px" id="strong-a-step-toward-a-crypto-friendly-u-s-strong"><strong>A Step Toward a Crypto-Friendly U.S.</strong></h2>
<p style="background-color:rgb(255, 255, 255);color:rgb(13, 13, 13);font-family:ui-sans-serif, -apple-system, system-ui, &quot;Segoe UI&quot;, Helvetica, &quot;Apple Color Emoji&quot;, Arial, sans-serif, &quot;Segoe UI Emoji&quot;, &quot;Segoe UI Symbol&quot;;font-size:16px;font-style:normal;font-weight:400;text-align:left">During his campaign, Trump promised to create a crypto-friendly administration, offering significant policy changes for the cryptocurrency sector. This new advisory council will reportedly be tasked with ensuring the U.S. stays at the forefront of the digital asset revolution.&nbsp;</p>
<p style="background-color:rgb(255, 255, 255);color:rgb(13, 13, 13);font-family:ui-sans-serif, -apple-system, system-ui, &quot;Segoe UI&quot;, Helvetica, &quot;Apple Color Emoji&quot;, Arial, sans-serif, &quot;Segoe UI Emoji&quot;, &quot;Segoe UI Symbol&quot;;font-size:16px;font-style:normal;font-weight:400;text-align:left">The council is expected to be housed within the White House’s National Economic Council (NEC) or a similar executive body, with industry experts brought in to provide input on crypto regulations and digital asset policies.</p>
<p style="background-color:rgb(255, 255, 255);color:rgb(13, 13, 13);font-family:ui-sans-serif, -apple-system, system-ui, &quot;Segoe UI&quot;, Helvetica, &quot;Apple Color Emoji&quot;, Arial, sans-serif, &quot;Segoe UI Emoji&quot;, &quot;Segoe UI Symbol&quot;;font-size:16px;font-style:normal;font-weight:400;text-align:left">Trump’s transition team has already begun discussing the framework of the council, including its structure, staffing, and the companies that should be involved. Leading U.S. crypto companies, including Ripple, Kraken, and Circle, are vying for positions on the council, eager to have a say in shaping the future of U.S. crypto policy.</p>
<h2 style="margin-left:0px" id="strong-bridging-the-gap-between-government-and-crypto-industry-strong"><strong>Bridging the Gap Between Government and Crypto Industry</strong></h2>
<p style="background-color:rgb(255, 255, 255);color:rgb(13, 13, 13);font-family:ui-sans-serif, -apple-system, system-ui, &quot;Segoe UI&quot;, Helvetica, &quot;Apple Color Emoji&quot;, Arial, sans-serif, &quot;Segoe UI Emoji&quot;, &quot;Segoe UI Symbol&quot;;font-size:16px;font-style:normal;font-weight:400;text-align:left">One of the primary goals of the crypto advisory council is to build stronger connections between the crypto industry and federal agencies like the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Treasury. These agencies will collaborate to create a more streamlined and transparent regulatory framework for the digital asset sector.</p>
<p style="background-color:rgb(255, 255, 255);color:rgb(13, 13, 13);font-family:ui-sans-serif, -apple-system, system-ui, &quot;Segoe UI&quot;, Helvetica, &quot;Apple Color Emoji&quot;, Arial, sans-serif, &quot;Segoe UI Emoji&quot;, &quot;Segoe UI Symbol&quot;;font-size:16px;font-style:normal;font-weight:400;text-align:left">Further, a key element of the advisory council’s mandate is overseeing the creation of a U.S. Bitcoin reserve. The reserve would hold Bitcoin to position the U.S. as a dominant force in the cryptocurrency market and provide a buffer against volatility.&nbsp;</p>
<h2 style="margin-left:0px" id="strong-industry-leaders-eyeing-key-positions-strong"><strong>Industry Leaders Eyeing Key Positions</strong></h2>
<p style="background-color:rgb(255, 255, 255);color:rgb(13, 13, 13);font-family:ui-sans-serif, -apple-system, system-ui, &quot;Segoe UI&quot;, Helvetica, &quot;Apple Color Emoji&quot;, Arial, sans-serif, &quot;Segoe UI Emoji&quot;, &quot;Segoe UI Symbol&quot;;font-size:16px;font-style:normal;font-weight:400;text-align:left">As the council takes shape, several high-profile industry figures are seeking positions on it. Coinbase CEO Brian Armstrong, Circle CEO Jeremy Allaire, and venture firms like Andreessen Horowitz (a16z) are all reportedly interested in playing a role in the council’s work. Their involvement would ensure that the voices of some of the most influential players in the industry are heard during policy discussions.</p>
<p style="background-color:rgb(255, 255, 255);color:rgb(13, 13, 13);font-family:ui-sans-serif, -apple-system, system-ui, &quot;Segoe UI&quot;, Helvetica, &quot;Apple Color Emoji&quot;, Arial, sans-serif, &quot;Segoe UI Emoji&quot;, &quot;Segoe UI Symbol&quot;;font-size:16px;font-style:normal;font-weight:400;text-align:left">In addition, <a href="https://www.foxbusiness.com/politics/trumps-former-cftc-chair-eyed-crypto-czar-role">sources</a> suggest that Trump’s team is considering the creation of a “crypto czar” role to lead the council. This position would oversee the crypto policy efforts across federal agencies and work closely with the president.&nbsp;</p>
<p style="background-color:rgb(255, 255, 255);color:rgb(13, 13, 13);font-family:ui-sans-serif, -apple-system, system-ui, &quot;Segoe UI&quot;, Helvetica, &quot;Apple Color Emoji&quot;, Arial, sans-serif, &quot;Segoe UI Emoji&quot;, &quot;Segoe UI Symbol&quot;;font-size:16px;font-style:normal;font-weight:400;text-align:left">One prominent figure mentioned as a potential candidate for the role is Chris Giancarlo, the former chairman of the CFTC, who has been an outspoken advocate for cryptocurrency.</p>

Trump’s New Crypto Advisory Committee Expected to Create U.S. Bitcoin Reserve: Report

Table of Contents

BSCN

Other articles published on Nov 22, 2024

Just 1,000 Bitcoin (BTC) for sale at $100K on Coinbase: buyers may easily eat through sell wall

Ali Martinez Highlights Bullish Potential for Dogecoin and Polygon

Crypto News Today: Bitcoin & Solana Hit ATH, XRP Leads Gainers!

Crypto millionaires will be made by April 2025: 6 coins to hold

Cat-Themed Meme Coins Surge 7% As New Viral Token CatSlap Upstages Mog Coin, Popcat With 1,683% Pump

Altcoin AMA Reveals Insights on Its $134M Seed Round; Plus, Latest Trends in BTC and AVAX

Join our free newsletter for daily crypto updates!