📣 Trump Forms Crypto Council: Will Bitcoin Become a National Asset?
posted 22 Nov 2024
According to Reuters, Donald Trump’s crypto advisory council will address regulatory frameworks, the creation of a national Bitcoin reserve, and coordination with regulators like the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
The council is likely to include representatives from leading crypto companies such as Ripple, Circle, and Kraken, along with law enforcement officials and former politicians. Preliminary reports suggest that every council member will have equal voting rights on critical decisions.
It's absolutely the wise choice to put together a council of people who... understand how both the industry ought to be regulated and how to situate the industry to be a strategic assetsaid Nathan McCauley, CEO of crypto platform Anchorage Digital.
In addition to crypto companies, investment heavyweights such as Paradigm and Andreessen Horowitz’s crypto division (a16z) are competing for a seat on the council. Several candidates have already officially expressed their interest in joining the advisory board to help shape the future of the crypto industry.
This initiative is expected to become part of the National Economic Council, which oversees the president’s economic agenda. Reports indicate the council will be headed by a “crypto king,” a recognized advocate and seasoned professional in the crypto space. Trump has been actively searching for a candidate to fill this position in recent weeks.
During his campaign, Trump promised to foster a favorable environment for cryptocurrencies, demonstrating robust support for the industry. He even accepted campaign contributions in digital assets—a significant shift from his earlier, more critical stance on crypto. It’s worth noting that following Trump’s election victory, Bitcoin’s price surged by over 40%
More breaking news
