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White House's new Crypto Assets advisor: Establishing a federal Crypto Assets reserve will be one of the top priorities.
On September 9, according to CoinDesk, President Trump's new cryptocurrency advisor Patrick Witt stated that he is taking over the baton from his predecessor Bo Hines, urging lawmakers to develop a comprehensive U.S. cryptocurrency monetary policy while pushing regulators to implement new stablecoin legislation. Witt stated: "There will be no gaps here." He was just promoted to this position last month, just two weeks after the U.S. government released a broad strategic report on U.S. cryptocurrency policy. "We will fully commit to legislative efforts and cross-agency actions recommended in the report, maintaining a high level of momentum." He stated that his three main priorities are: advancing Senate market structure legislation; facilitating the swift implementation of the stablecoin legislation named Guidance and Establishing a National Innovation Act for U.S. Stablecoins; and establishing a federal cryptocurrency reserve.