Nov 22, 01:29 PM

Trump Administration Plans Cryptocurrency Advisory Committee; Firms Compete for Seats Amid 18% SEC Tips and $11.8 Million Donations

The Trump administration is planning to establish a cryptocurrency advisory committee focused on legislation and regulation, according to reports. Major U.S. crypto firms, including Ripple, Kraken, Circle, Coinbase, Paradigm, and a16z, are competing for positions on this newly promised council. The advisory committee aims to influence U.S. policy reforms related to the cryptocurrency sector, which currently constitutes less than 1% of U.S. capital markets but accounts for 18% of SEC tips. Ripple co-founder Chris Larsen has notably donated over $11.8 million to PACs supporting Vice President Kamala Harris's campaign, highlighting the interconnectedness of politics and the crypto industry. Coin Center, a non-profit organization focused on Bitcoin and digital asset public policy, has expressed optimism regarding the incoming administration's approach, although it anticipates challenges in areas such as anti-money laundering and tax reporting.

#Trump #Ripple #Kraken #Circle #Coinbase #Paradigm #a16z #SEC #Chris Larsen #Kamala Harris #Coin Center #Bitcoin

Written with ChatGPT (GPT-4o mini).

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Trump Administration Plans Cryptocurrency Advisory Committee; Firms Compete for Seats Amid 18% SEC Tips and $11.8 Million Donations

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