Sources report that President-elect Donald Trump’s team is negotiating with cryptocurrency market leaders regarding regulatory changes that could alter the U.S. approach to digital assets.

According to these sources, Trump plans to take a softer stance on regulation to fulfill his campaign promise to make the U.S. the “crypto capital of the planet.”

Pro-Crypto Appointments

Recently, the Washington Post reported that Trump’s transition team is considering various pro-crypto candidates for key roles in financial regulatory agencies, such as the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Federal Deposit Insurance Corporation (FDIC).

Reportedly, potential candidates for these agencies include Daniel Gallagher, a former SEC official now with Robinhood; Hester Peirce and Mark Uyeda, current Republican commissioners at the agency; and former commissioner Paul Atkins.

It is also reported that Trump’s team is collaborating with crypto firms to establish a new Presidential Council on Digital Currencies. These appointments are crucial, as agency heads under Trump’s administration would have the power to decide whether cryptocurrency will become a more integrated and formalized component of the financial system.

Meanwhile, some Democratic lawmakers warn that easing regulation could increase risks of fraud, manipulation, and instability, citing the collapse of FTX in 2022 as a cautionary example.

Executive Orders and SEC Reform

The Trump administration is also exploring the use of executive orders to clarify federal agencies' roles in cryptocurrency oversight. These actions would streamline the regulatory framework, providing clearer guidelines on issues such as designating certain digital assets as securities.

Meanwhile, the SEC's leadership has come under scrutiny under Chair Gary Gensler. Trump’s team is considering his replacement, with Trump previously stating that he would "fire" the SEC chair once he takes office in January.

Karoline Leavitt, Trump’s transition spokesperson, stated that the American people have re-elected him by a decisive margin, giving him a mandate to fulfill his campaign promises. She added that he intends to follow through on those promises.

💸💲🧠 Get up to 5020 USDT as a welcome bonus and an additional 1025 USDT by using this referral on  Bybit