Former CFTC chairman Chris Giancarlo could be tapped to take over the role of cryptocurrency chief in the US under the new administration, according to Fox News.
Chris Giancarlo, the former chairman of the Commodity Futures Trading Commission (CFTC) and a leading advocate of blockchain technology, is being considered for a potential new position as the first U.S. “crypto czar.”
The Trump transition team is reportedly exploring the creation of the role as part of a plan to spur growth in the $3 trillion digital asset market, according to sources cited by FOX Business.
The term “czar” in U.S. politics typically refers to government officials with the authority to implement certain policies. These individuals may be outside advisors or serve within the government, similar to Vice President Harris' role as a border guard.
The idea of a “crypto czar” reportedly gained traction after a recent meeting between Trump and Coinbase CEO Brian Armstrong.
*This is not investment advice.