Crypto Czar Role Looms as Trump White House Eyes Bold Policy Overhaul
President-elect Donald Trump’s incoming administration is reportedly considering a new White House role focused solely on cryptocurrency policy, according to Bloomberg. Sources close to the discussions suggest this would be an unprecedented position, underscoring the growing prominence of digital currencies in federal governance.
Advisors on Trump’s transition team are said to be evaluating candidates to serve as a “crypto czar,” tasked with managing the government’s approach to cryptocurrency oversight and regulations. Industry stakeholders are advocating for the role to maintain direct communication with the president.
Trump has pledged to reshape cryptocurrency regulation, with vows to replace U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, reduce regulatory constraints, and establish a presidential advisory group for digital assets. Prominent crypto figures are already positioning themselves for potential seats on this council. Trump has reportedly held meetings with key industry leaders, including Brian Brooks, formerly of Coinbase and Binance.US, and Coinbase CEO Brian Armstrong. His personal ventures have also connected him to the crypto world through initiatives like non-fungible tokens (NFTs) and World Liberty Financial.
Moreover, Trump Media & Technology Group is rumored to be nearing an acquisition of Bakkt, a cryptocurrency trading platform. If completed, the deal would represent a strategic expansion into digital finance. Trump has pledged to make the U.S. a global leader in cryptocurrency, outlining plans for a national bitcoin reserve and policies designed to bolster innovation within the sector. Recent market reactions reflect optimism, with bitcoin’s value surging past $94,000 amid these developments.
This week, Trump nominated Howard Lutnick, CEO of Cantor Fitzgerald, as Secretary of Commerce. Lutnick, a veteran of traditional finance, is known for his support of cryptocurrency and has called bitcoin a transformative tool for global markets.
