Trump eyes former CFTC Chair Giancarlo for ‘Crypto Czar’ Role

President-elect Donald Trump’s transition team is reportedly exploring creating a “crypto czar” role to oversee digital asset policy, with former Commodity Futures Trading Commission Chairman Chris Giancarlo emerging as a top contender.

This potential position would be the first time the White House has appointed a senior official focused solely on cryptocurrency and blockchain innovation.

Giancarlo, nicknamed “Crypto Dad” for his support of the industry during his tenure at the CFTC, expressed that he is open to this position. A report from Fox Business suggests that he is a serious candidate.

The position, which is currently under consideration, will involve shaping regulatory frameworks to spur growth in the $3 trillion digital asset market, which includes cryptocurrencies like Bitcoin (BTC) and the $180 billion stablecoin sector.

Trump’s crypto-friendly rhetoric as Gensler retires

Throughout his campaign, Trump criticized the Biden administration’s approach to crypto regulation and vowed to fire SEC Chairman Gary Gensler on his first day in office. He also promised to establish a presidential advisory council to develop crypto-friendly policies within the first 100 days.

If appointed, the crypto czar could play a key role in this advisory council.

Giancarlo’s experience makes him a leading candidate. He chaired the CFTC from 2017 to 2019 and oversaw the launch of the first Bitcoin futures contracts. He is also the co-founder of the Digital Dollar Project, which is investigating a potential US central bank digital currency, and currently advises blockchain firms and industry groups.

On November 21, U.S. Securities and Exchange Commission Chairman Gary Gensler announced that he would resign, effective January 20, 2025. His resignation coincides with the inauguration of President-elect Donald Trump.