Key Takeaways
- Donald Trump’s team is prioritizing re-banking the crypto sector and repealing anti-crypto rules from the SEC.
- Marc Andreessen of a16z has been recruiting “Little Tech” people for the Trump administration.
- A number of top picks have direct or former ties with Elon Musk, Peter Thiel, and Andreessen.
The administration team of incoming President Donald Trump is laying the groundwork for a very impactful first day in office.
Key members of Trump’s team are working closely with industry leaders to lay the foundation for sweeping changes that could reshape the regulatory landscape.
The crypto industry anticipates Trump’s first day in office being marked by a series of major reforms, all aimed at addressing the ongoing concerns within the crypto sphere.
Impactful Day One
Trump’s administration is looking to hit the ground running as the Washington Post reports that the President-elect is expected to sign pro-crypto executive orders on day one of his presidency.
Most notably, the Trump team says it is a “priority” to address the U.S. Securities and Exchange Commission’s (SEC) controversial crypto-accounting rule SAB 121.
This rule requires publicly traded banks to label digital assets as liabilities on their balance sheets, effectively restricting banks from engaging with the crypto sector.
It’s considered one of the first dominoes to fall as part of the U.S. government’s anti-crypto conspiracy, Operation Chokepoint 2.0.
Politicians such as pro-Bitcoin Republican Cynthia Lummis have pledged to investigate and crack down on those responsible for what she believes are unconstitutional attempts to stifle the industry.
This would be a significant victory and lay the groundwork for other campaign trail promises to crypto.
Trump’s Crypto Cohort
As per the Washington Post, Trump’s new administration is set to be populated with pro-crypto, tech-friendly individuals with former and direct links to the Web3 industry.
Marc Andreessen, co-founder and general partner of tech venture capital firm, Andreessen Horowitz (a16z), has reportedly been instrumental in the selection process that will bring the President-elect’s crypto vision to life.
For months, Andreessen has spent a” fair amount” of time at the Mar-a-Lago resort volunteering his recruitment skills in the background. According to the Washington Post, he’s successfully tapped and interviewed people for numerous positions.
Notably, PayPal co-founder David Sacks was picked to fill the newly created role of “White House AI and Crypto Czar.” Sources noted that around ten key positions have ties to Elon Musk, Peter Thiel, or Andreessen.
Moving forward with the “Little Tech” agenda, he’s bringing in firms that can fulfill the—seemingly—main objective of overturning Joe Biden’s cumbersome policies. The biggest and earliest victories are likely to come from de-regulation, or at least pro-crypto regulation.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
