Cardano (CRYPTO: ADA) co-founder Charles Hoskinson on Thursday named Coinbase Inc. (NASDAQ:COIN) CEO Brian Armstrong for a potential crypto position at the White House, citing his unique position to bridge the gap between the digital asset industry and federal regulators.
What Happened: Hoskinson emphasized the importance of the role being filled by someone "neutral" with a deep understanding of blockchain technology and the challenges posed by existing U.S. regulations.
"There is only one candidate that I think stands out in our industry for this role, and that's Brian Armstrong," Hoskinson wrote.
He cited Armstrong's leadership at Coinbase, a company that has navigated significant regulatory hurdles, as a testament to his ability to unify the industry and drive meaningful policy reform.
A crypto position, reportedly being considered by President-elect Donald Trump's transition team, would mark the first time a White House role is dedicated exclusively to cryptocurrency policy.
The position is expected to act as a bridge between the White House, Congress, and federal regulatory agencies, aiming to create a cohesive and supportive regulatory framework for digital assets.
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Hoskinson's nomination of Armstrong comes as the blockchain industry anticipates major shifts under Trump's administration, which has promised a more crypto-friendly approach.
Trump's campaign pledges included firing SEC Chair Gary Gensler, scaling back regulatory oversight, and creating a presidential advisory council on cryptocurrency.
Hoskinson expressed his belief that Armstrong's experience would enable him to build a "broad tent coalition" to unite the fragmented crypto industry.
He also announced his own efforts to support the policy framework, revealing plans to meet lawmakers in Washington, D.C., and launch an initiative called Operation Baseline.
This project will survey the cryptocurrency industry to identify inefficiencies and propose actionable solutions for policymakers.
"The time has come to get this done so that we all can get back to work changing the world," Hoskinson said.
Armstrong, who recently endorsed Trump's newly announced Department of Government Efficiency, is no stranger to public policy debates.
Armstrong described DOGE as a "once-in-a-lifetime opportunity" to streamline government operations, reduce waste, and enhance economic freedom.
His vision aligns with blockchain's potential to improve transparency, reduce fraud, and simplify complex bureaucratic processes.
The creation of a crypto role could provide Armstrong with the platform to advocate for initiatives such as blockchain-driven transparency in government and Armstrong's own fiscal policy proposals, including a constitutional amendment to cap government spending.
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