Donald Trump and his transition team are actively discussing the possibility of creating a full-time White House position focused on crypto policy, according to a report out Wednesday in Bloomberg.
The role, if created, would constitute the first-ever job dedicated to cryptocurrency at the White House level.
Presidents routinely appoint “czars” to focus on specific, high-priority issues, ranging from climate change to border security. Placing a crypto czar in the Trump White House would grant the digital assets industry an advantage it has never yet enjoyed: a go-to point person to discuss industry priorities with, who would consistently have the president’s ear.
According to Wednesday’s report, while a decision has not yet been reached about the creation of such a role, members of Trump’s team have discussed the possibility with multiple industry leaders.
On Tuesday, Trump reportedly met with former Binance.US CEO Brian Brooks at the president-elect’s Mar-a-Lago estate in Palm Beach, Florida. Brooks, the former Acting Comptroller of the Currency as well as one-time Chief Legal Officer at Coinbase, is rumored to be in contention to run the U.S. Securities and Exchange Commission (SEC).
Earlier this week, Trump also spoke with Coinbase CEO Brian Armstrong, per the report.
During his presidential campaign, Trump made a slew of crypto-related promises, ranging from ending the SEC’s “crypto crackdown” to establishing a federal strategic Bitcoin reserve.
He has yet, however, to appoint any crypto advocates to positions in his administration that will have significant sway over the industry’s regulation.
On Tuesday, Trump appointed Howard Lutnick—a noted Bitcoin and Tether bull—to run the U.S. Department of Commerce.
The Commerce Secretary, however, has little if anything to do with regulating assets like crypto—in contrast to the Treasury Secretary position, which Lutnick reportedly coveted.
Edited by Andrew Hayward