Donald Trump’s administration is considering candidates for a cryptocurrency advisory council drawn from the chief executives of key industry firms, Bloomberg reports, citing anonymous sources.
The council is expected to begin work after Trump’s inauguration in late January. It would include “two dozen” selected industry representatives, who could influence administration decisions and help lawmakers develop regulations.
According to Bloomberg’s sources, participants will include the prospective White House “crypto czar” David Sacks and David Bailey, head of media company BTC Inc.
The chair of the new crypto council was appointed as football player Bo Hines, who ran for the US House of Representatives in 2022 with support from crypto-industry donors but lost.
All potential council members have ties to Trump and have met him in recent months.
An inaugural ball in Washington, DC, on January 17 is planned to mark the new presidential administration, organised by Bailey with support from Stand With Crypto, MetaMask, Kraken and a number of other industry representatives.
Tickets cost $2500, but capacity is the main constraint. The ball will be attended primarily by major donors from the crypto industry to Trump’s inaugural committee, who have given “seven-figure sums”.
In late December, MicroStrategy founder Michael Saylor proposed a US cryptocurrency policy blueprint, one element of which is the creation of a national bitcoin reserve.