U.S. Crypto Policy Changes Under Trump Administration

By Tom Wilson

Advocates and holders of cryptocurrency will likely gain a stronger influence on U.S. policy following President-elect Donald Trump’s nominations and advisory appointments set to take effect Monday.

The crypto industry, having faced multiple lawsuits and enforcement actions from the U.S. government over the years, is optimistic that the new administration will signal a shift in policy towards the technology. Political appointees will be subjected to vetting for conflicts of interest, with some pledging to divest from their personal investments.

• High-Profile Event: The industry will host a black-tie fundraiser in Washington with tickets priced between $2,500 and $10,000, attended by David Sacks, Trump’s crypto czar.

Key Figures in the Trump Administration

Scott Bessent

Trump’s nominee for Treasury Secretary, billionaire hedge fund manager Bessent, has expressed support for crypto, noting, “Crypto is about freedom and the crypto economy is here to stay.” He will divest from his bitcoin investments soon after his confirmation.

Howard Lutnick

As Secretary of Commerce, Lutnick is a vocal bitcoin proponent and CEO of Cantor Fitzgerald, which manages assets for Tether—the issuer of a stablecoin. He is heavily invested in bitcoin.

Elon Musk

Selected for a cost-cutting role, Musk has historically been a major influencer in the crypto realm, having previously invested in bitcoin and is seen as supportive of various cryptocurrencies.

Vivek Ramaswamy

A key ally of Musk, Ramaswamy leads Strive Asset Management, recently aiming to integrate bitcoin into investment portfolios and having personal investments in bitcoin and ether.

David Sacks

The former PayPal executive and crypto czar is expected to lead efforts in establishing a legal framework for the crypto industry and has financial ties to several crypto firms.

Steve Witkoff

Real estate mogul Witkoff has founded the crypto venture World Liberty Financial, which promises revenue sharing but hasn’t commented on its operations.

Trump Family Involvement

Eric Trump mentioned his active role in World Liberty, emphasizing the familial push toward making the U.S. a leader in the crypto space.

JD Vance

The vice president-elect has substantial personal investments in bitcoin and is associated with venture capital investments in crypto companies.

Paul Atkins

Nominated to lead the SEC, Atkins is expected to advocate for less stringent regulations on crypto, aligning with the new administration’s hopeful approach toward digital assets.

Overall, there appears to be a convergence among Trump’s appointees toward supporting and promoting the cryptocurrency landscape in the U.S.