Insider: Trump's Crypto Advisory Board Expected to Establish Committed Bitcoin Reserves

PANews, November 22 – According to a report by Reuters, several cryptocurrency companies, including Ripple, Kraken, and Circle, are competing for positions on the cryptocurrency advisory committee promised by presidential candidate Donald Trump. Sources indicate that the advisory committee may be affiliated with the White House National Economic Council or an independent White House department, with primary responsibilities including coordinating digital asset policy, collaborating with Congress to formulate cryptocurrency legislation, establishing a Bitcoin reserve, and working with agencies such as the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Department of the Treasury. Additionally, the $Trump team is considering establishing a "crypto czar" role to lead the committee. During his campaign, $Trump pledged to create an image of a "crypto president," end the current President Biden's strict regulation of the crypto industry, and ensure cryptocurrency companies have access to banking services through executive orders.

Insiders revealed that Coinbase CEO Brian Armstrong recently met with $Trump, and Circle CEO Jeremy Allaire has also publicly expressed a desire to join the committee. Meanwhile, the crypto divisions of Paradigm and Andreessen Horowitz (a16z) are also expected to have a seat on the committee.

However, some consumer groups warn that the cryptocurrency industry should not dominate rule-making, and the appointments of related personnel may be delayed due to ethical concerns. Despite this, industry experts argue that involving professionals who understand the crypto industry in policy-making will help develop the crypto industry as a strategic asset.