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Crypto Firms Compete for Trump’s Advisory Council
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During a Bitcoin conference in Nashville last July, Trump promised a new council that would focus on crypto-friendly regulations.
His team is now working on the details of how to set up and staff the council, and many top crypto firms are vying for a seat.
Crypto Leaders Push for a Seat on Trump’s Advisory Council
According to Reuters, companies like Ripple, Kraken, and Circle, along with venture firms Paradigm and a16z (the crypto arm of Andreessen Horowitz), are pushing to be part of this influential group. These companies believe that having a voice in the council would help them shape the future of cryptocurrency in the U.S. They want to make sure their interests are represented as Trump’s administration works on creating new policies for the growing digital asset market.
David Bailey, CEO of Bitcoin Magazine, who helped organize the event where Trump spoke, said that the council will likely include leading executives from major U.S. crypto firms. He’s been in talks with the President-elect about the role of Bitcoin and crypto in America’s future. Bailey expects the crypto sector’s top leaders will play a key role in advising the government on how to handle these emerging technologies.
BREAKING:
Donald Trump’s ‘crypto advisory council’ expected to set up strategic #Bitcoin reserve, Reuters reports. pic.twitter.com/b6axNJ61oI
— Bitcoin Magazine (@BitcoinMagazine) November 21, 2024
This move by Trump to create a crypto advisory council has many in the industry excited. As it could bring much-needed clarity to the regulatory environment surrounding digital currencies.
More About Trump’s Advisory Council
Companies like Ripple, Kraken, and Circle hope to be able to sit at the table and share their expertise. This will help guide the government toward policies that are fair and forward-thinking.
A slew of crypto companies including @Ripple, @krakenfx and @circle are jostling for a seat on President-elect @realDonaldTrump‘s promised crypto advisory council
It is expected to advise on digital asset policy, work with Congress on crypto legislation, establish Trump’s… pic.twitter.com/dxVSB71tAl
— ICO Drops (@ICODrops) November 22, 2024
For many in the crypto world, this is a golden opportunity. The push for a crypto-friendly government is not just about policy. But about making sure that the U.S. remains competitive in a rapidly growing and evolving market. As the debate heats up, it’s clear that the crypto industry is determined to be heard. Also, to help steer the country in the right direction when it comes to digital assets.
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November 22, 2024 at 09:10AM
November 22, 2024 at 09:11AM
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