Trump is considering cryptocurrency-supporting candidates for positions in federal financial agencies

US President-elect Donald Trump is considering candidates for positions in federal financial agencies that support cryptocurrencies, including the Securities and Exchange Commission, and hiring a chief crypto assistant at the National Economic Council.

This was reported by The Washington Post , UNN and UNN.

Details

President-elect Donald Trump is preparing the U.S. government to take a more lenient stance on cryptocurrency by considering industry-friendly nominees for key positions, and his top advisers are consulting with crypto executives on possible changes to federal policy

Initial discussions focused on a number of financial regulatory bodies, including the Securities and Exchange Commission. For important leadership positions, Trump's aides have considered a mix of current regulators, former federal officials, and financial industry executives, many of whom have publicly expressed pro-crypto views. The discussion is still in the early stages and the list of candidates is changing.

“Names being considered for positions at the Securities and Exchange Commission include Daniel Gallagher, a former commission official who now works for Robinhood, a financial technology firm that offers crypto wallets as well as trading stocks; and Hester Pierce and Mark Oueda, two Republican commissioners on the commission,” the publication notes.

Trump's aides are also considering former SEC Commissioner Paul Atkins and former Commodity Futures Trading Commission Commissioner Chris Giancarlo. The candidate elected to the SEC should replace its current chairman, Gary Gensler, whom Trump promised to fire during a speech at a major bitcoin conference this summer. The publication also notes that the new Trump administration intends to hire a chief crypto assistant at the National Economic Council, a key policy unit of the White House.

Recall

Bitcoin (BTC) briefly rose above $89,000 in trading on Tuesdaybefore correcting to $87,000 during a wild trading session where the asset extended its 7-day gain by more than 32%.