Trump's administration appointees and family members support cryptocurrency, promising to encourage American leadership in the industry.

From Investing.com

January 20, 2025 08:06:14 AM:

Advocates and holders of crypto are set to influence U.S. policy under the incoming Trump administration. Political appointees are selling their interests to avoid conflicts. Key members of the administration, including Treasury Secretary pick Scott Bessent and Commerce Secretary pick Howard Lutnick, are supportive of crypto. Elon Musk, in charge of government cost-cutting, has been a long-time champion of bitcoin and dogecoin. Musk’s agency, DOGE, is a nod to dogecoin, the world’s seventh-largest crypto token. Vivek Ramaswamy, working with Musk, aims to integrate bitcoin into American investment portfolios. David Sacks has been appointed White House artificial intelligence and crypto czar to develop a legal framework for the crypto industry. Steve Witkoff, Trump’s Middle East envoy, founded crypto venture World Liberty Financial. Eric Trump, Donald Trump Jr., and Barron Trump have been actively involved in World Liberty. U.S. Vice President-elect JD Vance held bitcoin investments and his firm, Narya, has made investments in the crypto industry. Trump’s promise to encourage American leadership in crypto and emerging technologies is expected to be fulfilled. Paul Atkins, Trump’s pick to lead the SEC, is anticipated to take a softer approach to crypto regulation than the current Chair Gary Gensler. Atkins, CEO of consultancy Patomak Global Partners, advises on leveraging digital assets for growth.

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