Donald Trump’s plans for a crypto advisory council are generating significant interest in the industry. Major players like Ripple, Coinbase, Kraken, and Circle are vying for a spot on this influential platform. With Trump’s pro-crypto policies expected to shape the sector, the council could become a pivotal force in the U.S. cryptocurrency strategy.
Which Crypto Firms Want a Seat on the Council?
Leading crypto firms are eager to strengthen ties with the Trump administration. Coinbase CEO Brian Armstrong recently met with Trump to discuss his potential role in the advisory council. Similarly, Circle CEO Jeremy Allaire has expressed his interest in joining. Kraken and Andreessen Horowitz’s crypto arm, a16z, are also reportedly eyeing positions within this framework.
The council is expected to function either under the National Economic Council or as an independent body. Its primary goals will be to shape crypto policies, collaborate with Congress, and align regulatory bodies. Additionally, Trump is anticipated to appoint a “crypto czar” to spearhead these initiatives.
Trump’s Promises Energize the Crypto Industry
Trump’s presidential campaign emphasized a friendly stance toward the crypto industry, pledging to reverse the strict policies of the Biden administration. These promises have already had a positive impact on the market, pushing Bitcoin to $97,974 and nearing record highs.
Crypto companies are hopeful for improved access to banking services, reduced regulatory hurdles, and clearer legal frameworks under the new administration. However, some experts caution against granting the industry unchecked influence. Blockchain Association CEO Kristin Smith suggested that the council’s establishment could be completed swiftly, while Anchorage Digital CEO Nathan McCauley emphasized the need for industry experts to play an active role in policymaking.
A New Era for U.S. Crypto Strategy
Trump’s crypto advisory council is poised to be a turning point for the industry, potentially shaping the United States’ long-term cryptocurrency strategy. As reported by Dey There, this initiative underscores the growing importance of crypto in economic and regulatory discussions, paving the way for broader adoption and innovation.
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