According to a Fox Business report on Thursday, Chris Giancarlo, former chairman of the Commodity Futures Trading Commission (CFTC), is being considered for the newly proposed role of “cryptocurrency czar” in the Trump administration.
The position is expected to focus on shaping US crypto policy and fostering a regulatory environment that supports blockchain and digital assets.
Known as “Crypto Dad” for his advocacy of blockchain innovation during his tenure as CFTC chairman, Giancarlo has been a prominent voice in the push to modernize financial systems.
He previously headed the Digital Dollar Project, which is exploring the potential of a US central bank digital currency (CBDC). Reports suggest that Giancarlo has withdrawn from consideration for positions at the CFTC and the Securities and Exchange Commission (SEC), expressing a preference for the proposed role of the cryptocurrency.
If elected, he would likely work with Congress and regulatory agencies to create a clearer framework for the cryptocurrency industry. The proposed position may also include participation on a potential cryptocurrency advisory board.
Prominent industry leaders such as Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse have reportedly participated in discussions about such a council. However, despite Giancarlo’s qualifications, skepticism persists within Trump’s team about the need for this new role.
Some advisors have expressed concerns about increasing government bureaucracy, which would contrast with Trump’s broader agenda of reducing the influence of the federal government. Sources close to the transition team indicated that discussions about the role are ongoing and no formal decision has been made.
“I would be honored to be considered for this role,” – Giancarlo said, stressing his readiness to help shape the future of US crypto policy.
