Trump administration allegedly seeks to create new crypto position in White House

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• Donald Trump's transition team reportedly seeks to create a crypto role in the White House.

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• The team is vetting potential candidates for the role.

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• While the full description of the role is unclear, it should focus on directing crypto policies.

President-elect Donald Trump and his team are reportedly seeking to introduce a new White House position for crypto policy, Bloomberg reported on Wednesday.

Trump team set to open crypto policy role in White House

Donald Trump's transition team is allegedly working to create a crypto position in the White House after speaking with candidates who could fit the first-time role.

Bloomberg stated that the exact nature of the position is uncertain, but it may resemble a senior staff role at the White House or a "crypto czar."

This role could involve coordinating policy and regulation across various federal agencies, although the specific details are still being determined.

The position would also oversee a small team and act as a link between Congress, the White House, and regulatory bodies responsible for cryptocurrency oversight, such as the Securities and Exchange Commission (SEC) and Commodities and Futures Trading Commission (CFTC).

If the rumors are true, it could signal the beginning of a positive regulatory environment for the crypto industry under Trump's rule.

The incoming president has also been in talks with other top crypto leaders, such as Coinbase CEO Brian Armstrong, whom he spoke with via a call on Tuesday.

Furthermore, during Trump's presidential campaign, he promised to make the US the crypto capital of the world and fire SEC Chair Gary Gensler on his first day in office.

Crypto community members have speculated on several potential candidates to head the agency, but CoinDesk suggests that the president-elect is considering crypto lawyer Teresa Goody Guillén.