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Former President Donald Trump’s proposed crypto advisory council has garnered significant interest. Prominent cryptocurrency companies such as Ripple 
$2, Kraken, Circle, and Coinbase are competing to be part of this new structure. The industry eagerly anticipates how Trump’s crypto-friendly policies will impact the sector.
Which Crypto Companies Want to Join the Council?
Major players in the crypto world are preparing to establish closer ties with the Trump administration. Coinbase CEO Brian Armstrong recently met with Trump, discussing his potential role in the council. Circle CEO Jeremy Allaire has also expressed a clear desire to join the council. Additionally, Kraken and the crypto branch of Andreessen Horowitz, a16z, are expected to participate.
The advisory council is planned to be structured either under the White House’s National Economic Council or as an independent body. It is expected to regulate cryptocurrency policies, collaborate with Congress, and ensure harmonization among regulatory agencies. Furthermore, Trump is anticipated to appoint a “crypto czar” to lead these efforts.
Trump’s Promises Energize the Sector
During his presidential campaign, Trump exhibited a friendly approach towards the sector. He pledged to end the Biden administration’s stringent crypto policies. These promises have brought Bitcoin (BTC) 
$104,469 prices close to record levels. Cryptocurrency firms anticipate easier access to banking services, reduced regulatory pressure, and clearer legal frameworks from the new administration.
However, some experts caution against allowing the industry to write its own rules. Kristin Smith, CEO of the Blockchain Association, stated, “It’s possible to quickly establish the council,” indicating that the process could be completed soon. Nathan McCauley, CEO of Anchorage Digital, emphasized the importance of industry experts playing an active role in policy formation.
Trump’s proposed crypto advisory council is regarded as a significant milestone for the industry. Its establishment is expected to play a decisive role in shaping the U.S. cryptocurrency strategy.
