The Blubber

President-elect Donald Trump’s team is exploring the creation of a dedicated White House position focused on cryptocurrency policy, according to individuals familiar with the transition discussions.

The team is vetting candidates for what would be the first crypto-specific role in White House history, signaling the growing influence of the digital asset industry in the incoming administration. However, the exact nature of the position remains undecided. It’s unclear if it will be a senior staff role or a designated “crypto czar” responsible for coordinating crypto-related policy and regulation across federal agencies. Advocates within the industry are pushing for the role to report directly to Trump, these individuals said.

The Trump transition team has not commented on the matter.

During his campaign, Trump positioned himself as a supporter of the crypto industry, criticizing current SEC Chair Gary Gensler for his regulatory approach and promising to reduce oversight while establishing a presidential advisory council on cryptocurrency. Discussions about that council have led to intense lobbying by crypto advocates eager for seats on the panel, according to sources.

Throughout the summer, Trump met multiple times with executives from Bitcoin mining firms and cryptocurrency exchanges, even addressing a Bitcoin conference in July. Trump’s business ventures also include crypto-related projects, such as his recent release of a fourth series of non-fungible tokens (NFTs) and his involvement with a venture called World Liberty Financial.

The proposed crypto-focused role would reportedly involve managing a small staff and serving as a bridge between Congress, the White House, and regulatory agencies like the SEC and Commodity Futures Trading Commission (CFTC).

In recent days, crypto allies have visited Mar-a-Lago, Trump’s private club, where his team is conducting interviews and discussing potential appointments. Among the visitors was Brian Brooks, a former executive at Coinbase Global Inc. and Binance.US, who is also being considered for SEC chair, according to sources. Coinbase CEO Brian Armstrong also met with Trump this week. A spokesperson for Coinbase declined to comment.