Key Takeaways:

First White House Crypto Role: Trump is reportedly considering creating a dedicated cryptocurrency policy position, highlighting the sector’s growing influence in his administration.
Industry Influence: Key crypto leaders, including Coinbase executives, have met with Trump, and a crypto-friendly “czar” could coordinate policy across agencies.
Regulatory Signals: Pro-crypto candidates are being considered for top financial regulatory roles, potentially easing pressures on the industry.

President-elect Donald Trump is reportedly considering the creation of a White House role focused exclusively on cryptocurrency policy, according to Bloomberg.

If established, this would be the first crypto-specific position in White House history, reflecting the growing importance of the sector in Trump’s administration.

Donald Trump’s team is holding discussions with the digital asset industry about whether to create a new White House post solely dedicated to cryptocurrency policy, sources say https://t.co/Mp8Rk8QRnn
— Bloomberg Crypto (@crypto) November 20, 2024

Discussions are ongoing with industry leaders, and potential candidates are being vetted, including at Trump’s Mar-a-Lago residence.

Trump gained support from crypto advocates during his campaign by pledging to make the U.S. the “world’s crypto capital” and promising to reduce regulatory pressures on the industry.

The potential role, which could range from a staff position to a broader “crypto czar” coordinating policy across federal agencies, would act as a liaison between the White House, Congress, and agencies like the SEC and CFTC.

Industry executives, including Coinbase CEO Brian Armstrong, met with Trump on Nov. 19 to discuss the initiative.

Trump’s transition team is also evaluating candidates for financial regulatory roles, including Summer Mersinger, a CFTC commissioner known for her pro-crypto stance, and Howard Lutnick, a crypto advocate, as Secretary of Commerce.

The crypto market has reacted positively, with Coinbase shares surpassing $300 for the first time since 2021, signaling optimism about the administration’s crypto-friendly policies.