News sources reported on Wednesday that President-Elect Donald Trump and his staff are now considering creating a White House position dedicated exclusively to cryptocurrency policy.
According to FOX Business, the individual named to the role would interact with regulators, such as the Securities and Exchange Commission and the Commodity Futures Trading Commission. Trump’s team has already begun a vetting process for potential candidates.
The development has been met with approval by many, including Alabama’s U.S. Senator Katie Britt (R-Montgomery). On X, accompanied by a post from Bloomberg, Britt placed her support behind the Trump Administration’s efforts to explore the possibility of adding the job by meeting with business leaders in the digital asset industry.
Another positive development from the incoming Administration. The era of villainizing an entire industry and sending innovation overseas has ended. We need regulatory clarity for digital assets and an Admin that not only understands – but embraces – its potential. https://t.co/cNMSkuFRzY
— Senator Katie Boyd Britt (@SenKatieBritt) November 20, 2024
The possible move to create the post stands in stark contrast to policies enacted by the Biden Administration that encouraged the Securities Exchange Commission to “pursue case-by-case enforcement actions against major crypto firms.”
Earlier this month, Britt called for a new SEC Chairman to replace Gary Gensler who has helped to lead a crackdown on the industry. Since taking over the agency, Gensler has been at odds with crypto leaders who believe that the SEC’s absence of distinct crypto industry guidelines has harmed compliance efforts.
RELATED: Katie Britt calls out Biden administration after Bitcoin surge, urges new SEC Chair
Gensler announced Thursday afternoon that he would be resigning his position before Trump takes office which was also met with Britt’s approval.
A new administration, a new SEC chair, and a new FDIC chair coming in 2025.
Excellent news for U.S. families, investors, capital markets, innovators, and small businesses.Can’t wait to see America keep winning. #GetGenslerOut https://t.co/fYDQKVYXca
— Senator Katie Boyd Britt (@SenKatieBritt) November 21, 2024
The Senator also recently slammed the Biden Administration for its restrictive policies in relation to the cryptocurrency, Bitcoin, after a recent surge in value from the digital asset company.
“Bitcoin reaches >$90k and counting,” Britt said. “Another clear repudiation of the Biden Admin’s policies.”
Austen Shipley is a staff writer for Yellowhammer News. You can follow him on X @ShipleyAusten
