In a significant development, President-elect Donald Trump’s crypto advisory council is anticipated to create the promised Bitcoin reserve. With Trump pledging a crypto-friendly administration, leading digital asset firms are competing for a spot on the proposed advisory council to shape U.S. cryptocurrency policies.
Industry insiders report that companies such as Ripple, Kraken, Circle, and Coinbase are among those seeking representation. During a Bitcoin conference in Nashville in July, Trump announced plans to form the council as part of his commitment to promoting blockchain innovation. The transition team is currently working on defining the council’s structure, membership, and scope.
The advisory council is expected to:
- Advise on digital asset policy and collaborate with Congress on legislation.
- Manage Trump’s Bitcoin reserve proposal to support U.S. crypto assets.
- Coordinate with federal agencies, including the SEC, CFTC, and Treasury.
- Potentially involve sanctions representatives and former policymakers to ensure balanced oversight.
