54.2 F
Mobile
48 F
Huntsville
44.9 F
Birmingham
31.1 F
Montgomery

Katie Britt in support of Trump creating White House position for cryptocurrency policy

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.

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.

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

Don’t miss out!  Subscribe today to have Alabama’s leading headlines delivered to your inbox.