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It has been reported that the Crypto Advisory Council, which will advise new US President-elect Donald Trump on the crypto industry, will work to create the promised Bitcoin reserve.
According to Reuters, the council in question would be established under the National Economic Council at the White House or as a separate unit. The council is tasked with directing policies regarding digital assets, working with Congress on crypto regulations, building the bitcoin reserve promised by Trump, and ensuring coordination between agencies such as the SEC, CFTC and the Treasury Department. will
The news also mentions that many crypto companies such as Ripple, Kraken and Circle are vying to participate in this council. According to Reuters, these companies aim to talk about fundamental changes in Trump’s crypto policies. It was claimed that investment firms Paradigm and Andreessen Horowitz were among the companies involved in the fierce competition.
Bitcoin Magazine CEO David Bailey, who organized the Bitcoin 2024 conference where Trump spoke in July, said he met with Trump about Bitcoin policies and said, “I predict “They are very eager to join the council and present their ideas,” he said.
Bitcoin reached $99,000 after this last-minute news reached the news agencies.
Trump took a welcoming approach to crypto during the campaign. The 47th president of the United States has promised to be a pro-bitcoin president, ending the crackdown on crypto companies and paving the way for the industry.
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