Gary Gensler officially announcement departure, Donald Trump Plans Advisory Committee On Crypto

Reportedly, the Trump administration planned to create a Crypto advisory committee along with a Bitcoin reserve strategy so that coordination among crypto companies & regulators can be increased.

As we know, Donald Trump, the former US president, is ready to assume the US presidential office in January of next year. And also, he is ready to fulfil the number of promises he made before the election. Multiple government-level activities & inside reports reflect that Trump is deeply engaged in bringing pro-Bitcoin regulatory measures.

On 22 Nov 2024, Reuters reported that Donald Trump & his company leaders planned to establish a Crypto Advisory Committee to drive digital assets legislation, better coordination among financial regulatory bodies, and introduce a bitcoin reserve strategy in a better way.

The proposed crypto committee may be part of the White House National Economic Council or maybe operate as an independent entity. However, the discussion among the experts is going on for policy development in this matter.

As per reports, the executives of top crypto companies like Ripple, Kraken, and Circle are competing to get seats on the committee. Also on, the crypto entrepreneur Circle CEO Jeremy Allaire and Coinbase CEO Brian Armstrong expressed interest in joining the proposed committee.

As per the latest report by Reuters, Paradigm and a16z are expected to get a seat in this committee, and there are huge chances that the committee will be located under the White House National Economic Council.

Crypto hater Gary Gensler’s departure from the SEC agency

Yesterday Gary Gensler, the chairman of the United States Securities and Exchange Commission (SEC), announced his decision to resign from his role at the agency. He will officially leave his position on 20 Jan 2025.

Following this announcement, crypto enthusiasts considered more than 4 names as the potential next ProCrypto chairman for the SEC body, who can bring better rules & laws to protect the crypto space & ensure innovations under a safe regulatory environment.

Read also: Very disappointing! WazirX silently increases the fund release date by 10 days