TechFlow reported on November 23, according to Reuters, that Trump has pledged to establish a new committee as part of a crypto-friendly administration. Sources familiar with the matter said his transition team is discussing how to structure and staff the committee, as well as which companies should be included. Several digital asset industry executives revealed that numerous crypto firms, including Ripple, Kraken, and Circle, are vying for seats on the promised cryptocurrency advisory committee under President-elect Trump, seeking influence over his planned U.S. policy reforms. However, some consumer groups have warned that the crypto industry should not be allowed to "regulate itself," and some sources indicated ethical considerations could slow down appointments. Others argued it makes sense to involve industry experts in critical policy matters.
Trump won support and campaign contributions from the industry by promising to become the "crypto president" and end Biden-era crackdowns on crypto companies accused by regulators of violating securities and anti-money laundering laws. Trump is also pushing for an executive order guaranteeing crypto firms access to banking services, halting enforcement actions against them, and implementing other changes.
