According to a breaking development, Trump's crypto advisory council is expected to create the promised Bitcoin reserve.
With President-elect Donald Trump promising a crypto-friendly administration, leading digital asset firms are vying for a spot on a proposed advisory council to influence U.S. cryptocurrency policies.
Companies such as Ripple, Kraken, Circle and Coinbase are among those looking to be represented, according to industry insiders.
During a Bitcoin conference in Nashville in July, Trump announced plans to create the council as part of his pledge to promote blockchain innovation. The transition team is currently working to determine its structure, membership and scope, sources said.
The advisory council is expected to:
Advising on digital asset policy and collaborating with Congress on legislation.
Managing Trump’s Bitcoin reserve proposal to support U.S. crypto assets. Coordinating with federal agencies including the SEC, CFTC, and Treasury.
Potentially involving sanctions representatives and former policymakers to ensure balanced oversight.
*This is not investment advice.