- Donald Trump’s crypto agenda is gaining traction.
- Trump is reportedly considering making a fresh appointment to serve the industry.
- The president-elect’s promises to the industry are extensive.
During his campaign for the 47th US presidential position, Donald Trump turned to the crypto industry for support. With a lengthy list of promises to bring the long-awaited overhaul and end the unfriendly regulatory state, market participants rallied behind the election hopeful, optimistic for an industry refresh under his administration.
Following his victory, the president-elect seems ready to deliver on those promises.
Trump Reportedly Mulls Crypto Position
A first-of-its-kind pro-crypto position could be coming to the White House. According to a November 20 Bloomberg report , Donald Trump is exploring creating a dedicated crypto policy role within his administration.
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Citing anonymous sources, the report added that advisors from the president-elect’s team are reportedly in talks with industry executives over the scope of the proposed role and vetting potential candidates for the position. Though unconfirmed, the reports come as the former president amplifies efforts to refresh the U.S. crypto policy.
The whispers follow recent news of Trump meeting with prominent figures in the crypto industry, including Coinbase CEO Brian Armstrong. Trump’s team is said to be weighing additional moves, such as appointments of crypto-aligned executives and even a potential acquisition of a crypto trading firm .
As Trump’s efforts gain traction, his promises to the crypto industry are back in the limelight.
Donald Trump’s Crypto Promises
Since adopting his self-styled ‘ crypto president ‘ title, Donald Trump has laid out bold ambitions, from pledging a “crypto capital” status for the United States crypto scene to promising sweeping reforms.
Among his most daring is a vocal vow to oust Biden-appointed Gary Gensler ’s tenure as SEC chair, ending the latter’s war against the industry.
“The moment I’m sworn in, the persecution stops, and the weaponization ends against your industry,” proclaimed Trump adding. “I will appoint a new SEC chairman who believes that America should build the future, not block the future.”Trump has also floated the idea of creating a national BTC reserve, stressing his intention to “keep 100% of all the Bitcoin” the US government currently holds or acquires into the future.
Other promises include supporting the Bitcoin mining sector and safeguarding the right to self-custody, and it remains to be seen how the president-elect delivers on these sweeping pledges.
On the Flipside
- Trump was once a vocal critic of crypto, and during his first term as president, he didn’t take any significant action to support the industry.
- Trump’s win translated into a pump for Bitcoin , kickstarting its surge to its current trading value of $97,000
- The president-elect will be sworn into power by January 20, 2025.
Why This Matters
A dedicated crypto position in the White House could mark a turning point in the crypto industry, potentially birthing more balanced and supportive regulatory policies that promote growth.
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