Trump Administration Plans First White House Cryptocurrency Policy Position

TLDR

• Trump’s team is considering creating first-ever White House crypto policy position
• Cardano founder Charles Hoskinson endorses Coinbase CEO Brian Armstrong for the role
• Trump has pledged pro-crypto reforms and plans to replace SEC Chair Gary Gensler
• Crypto industry leaders are meeting at Mar-a-Lago to discuss the position
• Hoskinson announced plans to advise lawmakers on crypto regulations in Washington

The incoming Trump administration is making preparations to establish the first-ever White House position dedicated to cryptocurrency policy, marking a potential shift in federal oversight of digital assets.

According to recent reports from Bloomberg, Trump’s transition team has begun vetting candidates and meeting with industry leaders to shape the role’s scope and responsibilities.

Coinbase CEO Brian Armstrong has emerged as a leading candidate for the position, receiving a strong endorsement from Cardano founder Charles Hoskinson.

In a social media post, Hoskinson praised Armstrong’s neutrality and deep understanding of the cryptocurrency ecosystem, noting his experience leading one of the industry’s largest exchanges through regulatory challenges.

The proposed position comes as part of Trump’s broader crypto-friendly agenda. During his campaign, Trump promised to scale back existing regulations and replace current SEC Chair Gary Gensler, who has faced criticism from the crypto community for his enforcement-heavy approach to oversight.

Industry engagement with the transition process has been active, with multiple crypto executives making trips to Trump’s Mar-a-Lago estate for discussions. Former Coinbase and Binance executive Brian Brooks has participated in these meetings, highlighting the high-level interest in shaping the administration’s crypto policies.

Trump’s personal connections to cryptocurrency include his recent launch of a fourth collection of non-fungible tokens (NFTs) and his involvement in starting World Liberty Financial. These ties suggest a familiarity with digital asset markets that could influence his administration’s approach to regulation.

The exact nature of the position remains under discussion, with options ranging from a senior White House staff role to an informal “crypto czar” position. The core goal appears to be establishing a central figure to coordinate cryptocurrency policy across federal agencies.

Charles Hoskinson has announced his own initiatives to support crypto-friendly policies, including plans to meet with lawmakers in Washington.

He detailed an upcoming project called ‘Operation Baseline,’ set to launch in January 2025, which will survey the U.S. crypto industry to identify areas needing improvement.

The Cardano founder emphasized the importance of industry collaboration in these efforts. He specifically highlighted Coinbase’s role as a “pillar of crypto” and its experience dealing with regulatory challenges through the SEC’s legal actions against the exchange.

Trump’s summer activities included meetings with Bitcoin mining executives and leaders of various crypto exchanges. He also delivered a speech at a Bitcoin conference in July, further demonstrating his engagement with the digital asset community.

The transition team’s consideration of this role reflects growing recognition of cryptocurrency’s importance in financial markets. The position would potentially serve as a direct line to the President for industry concerns and policy coordination.

Industry leaders are actively seeking positions on Trump’s proposed cryptocurrency advisory council, which he promised to establish during his campaign. This council would likely work alongside the new White House crypto position to shape policy direction.

Hoskinson revealed plans for formal meetings with several lawmakers to help guide legislative efforts. His goal is to address what he describes as abuses by the current federal government and create opportunities for traditional financial institutions to enter the crypto space.

The timing of these developments coincides with increased attention on crypto regulation globally. Trump’s team appears focused on positioning the United States as a leader in cryptocurrency innovation and adoption.

Recent discussions between industry figures continue to shape the potential role. Hoskinson’s recent conversation with Ripple’s Chief Technology Officer David Schwartz about various protocols demonstrates the ongoing dialogue within the crypto community about regulatory approaches.

The search for candidates and planning for this position remains active, with continued meetings and discussions expected as the transition process moves forward.