President-elect Donald Trump’s transition team is reportedly discussing the creation of a dedicated White House role focused exclusively on cryptocurrency policy, a move that would mark the first such position in U.S. history. According to Bloomberg and Fox Business, Trump’s team is actively vetting candidates for the potential role, which could include responsibilities such as coordinating federal crypto policy, engaging with Congress, and liaising with key regulatory agencies like the SEC and CFTC.

Discussions suggest the position might serve as a "crypto czar," providing direct access to President Trump and overseeing cryptocurrency policy across federal agencies. Proponents from the crypto industry are advocating for the role to ensure alignment with Trump’s campaign promises of regulatory reform and support for digital assets. The exact structure of the role and the level of seniority within the White House remain unclear.

Throughout his campaign, Trump positioned himself as a supporter of the cryptocurrency industry. He vowed to fire SEC Chair Gary Gensler, who has been criticized by the crypto community for his stringent regulatory stance. Trump also pledged to scale back crypto regulations and create a presidential advisory council on digital assets. Notably, he addressed Bitcoin enthusiasts during a conference in Nashville in July and visited a cryptocurrency-themed bar in New York City, signaling his openness to blockchain and digital currency innovation.

High-profile industry executives, including former Coinbase and Binance.US executive Brian Brooks and Coinbase CEO Brian Armstrong, recently met with Trump at Mar-a-Lago to discuss the administration's crypto agenda. Brooks, who has been floated as a possible SEC chair candidate, is seen as a key player in shaping the incoming administration’s digital asset strategy.

The discussions come as Bitcoin reaches record highs, recently surpassing $94,000, and as crypto exchange-traded funds (ETFs) like the iShares Bitcoin Trust continue to see significant growth. With the largest Bitcoin ETF now managing over $40 billion in assets, the potential for a crypto-focused White House role could further bolster market confidence and institutional adoption.

If established, the cryptocurrency position would signal a significant shift in federal policy, with a heightened focus on integrating digital assets into the broader economy. The move also reflects growing recognition of the cryptocurrency sector's influence and its alignment with Trump’s business-friendly and innovation-driven agenda.

While the details remain in flux, the discussions highlight the increasing importance of cryptocurrency in both economic policy and political strategy. Trump’s transition team has yet to issue an official statement on the matter, but industry stakeholders are closely watching for further developments.

Bloomberg Article