New hope after Trump takes office: White House establishes new crypto policy position, Brian Brooks is candidate for SEC chairman?

According to Bloomberg reports, the incoming Trump team is in discussions with the digital asset industry, considering the establishment of a new position in the White House specifically responsible for cryptocurrency policy. There have also been reports that Brian Brooks, the former CEO of Binance US, may have the opportunity to replace Gary Gensler as the next SEC chairman.

Will the White House establish a new cryptocurrency policy position?

According to sources familiar with the matter, Trump's team is considering establishing a new position in the White House specifically responsible for cryptocurrency policy, and is reviewing candidates for this role. They say that advocates of the cryptocurrency industry are pushing for this role and have established direct contact with the Trump team to exert influence in the incoming administration.

Sources say the discussions around the cryptocurrency role include leading a small staff and serving as a liaison between Congress, the White House, and the various agencies that have jurisdiction over cryptocurrencies, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

After the election, Trump nominated cryptocurrency-friendly individuals to key positions, including Cantor Fitzgerald CEO Howard Lutnick to lead the Department of Commerce, and pro-Bitcoin Robert F. Kennedy Jr. as Secretary of Health and Human Services.

(US presidential candidate Kennedy calls for buying $615 billion in Bit: Buying as much as the US gold reserve)

Is Brian Brooks a candidate for SEC chairman?

In recent days, cryptocurrency allies have traveled to Trump's private Mar-a-Lago club, where the Trump team is holding personnel discussions and interviewing potential candidates. Sources reveal that Brian Brooks, a potential SEC chairman candidate, and Coinbase CEO Brian Armstrong both had conversations with Trump this week.

Brian Brooks was the head of the OCC (Office of the Comptroller of the Currency, an independent bank regulatory agency under the US Department of the Treasury) during Trump's last term, and later served as the CEO of Binance US for four months before abruptly resigning and joining mining company Bitfury as CEO. There have been reports that Brooks may be appointed as the next SEC chairman. Kraken founder Jesse Powell stated that in addition to cryptocurrencies, Brian Brooks also understands the authority and scope of the SEC. Powell believes the current SEC has seriously deviated from its course, causing great harm to American businesses and markets, and Brooks' appointment could make the US market exciting again!

Trump embraced the cryptocurrency industry during his campaign and vowed to fire the current SEC chairman Gary Gensler, who was nominated by President Biden in 2021 to serve as the 33rd chairman of the US Securities and Exchange Commission, with a term expected to last until January 2026.