Crypto Policy at the White House: A New Frontier

President-elect Trump's team is considering establishing a White House position solely for crypto policy. This potential role signifies a major step forward for the crypto industry, which gained significant attention during Trump's campaign. His pro-crypto stance could shape future regulatory frameworks.

In a significant move for the digital asset industry, President-elect Donald Trump's transition team is considering the creation of a new White House role dedicated exclusively to cryptocurrency policy, as reported by Bloomberg News on Wednesday.

The team is currently evaluating potential candidates for the position, although no official comment was available from the transition team as of Reuters' inquiry.

Having been a vocal advocate for bitcoin and the crypto sector during his campaign, Trump committed to removing Gary Gensler, a known crypto skeptic, from his chair position at the Securities and Exchange Commission. He even made headlines by using bitcoin to purchase burgers for supporters. The establishment of a dedicated crypto post in the White House would mark a significant victory for a sector that has rapidly transitioned from the periphery to the forefront of financial discourse. This comes as bitcoin surged to a new record high, edging closer to the $100,000 mark, following Trump's recent electoral victory, which has buoyed the crypto market's prospects.

(With inputs from agencies.)