Blue-chip crypto companies are reportedly scrambling to secure a spot on newly-elected President Donald Trump’s promised advisory board.
According to a new report from Reuters, US crypto industry giants – including payments company Ripple Labs, crypto exchange Kraken, stablecoin publisher Circle and venture capitalist Andreessen Horowitz – are all currently vying for a spot on Trump’s crypto advisory board.
Several executives in the digital asset industry told Reuters that the companies are jockeying for positions as they want a say in the overhaul of the country’s crypto policy.
Trump initially announced his plans to create a crypto advisory board in July when he spoke at the Bitcoin (BTC) conference.
As David Bailey, the CEO of Bitcoin magazine who organized Trump’s appearance at the BTC conference, told Reuters:
“[The advisory board is] is being worked out, but I expect leading executives from the US Bitcoin and crypto companies will be represented… People are eager to offer advice and input.”
According to the report, two anonymous sources said that Trump’s transition team — including former Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert, chief legal officer at Circle, and former Republican CFTC Commissioner Brian Quintenz, head of policy for Andreessen Horowitz’s crypto arm – also discusses creating a “crypto czar” role.
As Nathan McCauley, CEO of crypto software company Anchorage Digital, who has advocated for a change in Joe Biden’s crypto policy, says:
“It is absolutely a wise choice to put together a board of people who… understand how the industry should be regulated and how the industry should be seen as a strategic asset.”
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