Cardano founder Charles Hoskinson has congratulated Bo Hines on his appointment as the executive director of the Presidential Council of Advisers for Digital Assets, informally called the “Crypto Council.”
The U.S. President-elect Donald Trump announced the appointment on December 22 through a post on Truth Social.
Hines, a former college football player and Republican House candidate, will work alongside tech entrepreneur David Sacks, who was named Trump’s AI and Crypto Czar last month. Both of them will lead the newly formed council in developing a regulatory framework for digital assets in the U.S. Sacks is expected to spearhead the council’s collaborative efforts, while Hines will focus on liaising with Congress, establishing a Bitcoin reserve, and coordinating with federal agencies like the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and Treasury.
Trump underscored the importance of their roles, stating,
“Together, they will create an environment where this industry can flourish, and remain a cornerstone of our Nation’s technological advancement.”
Hines expressed his gratitude in an X post on December 22, calling the appointment “the honor of a lifetime.”
Thank you, Mr. President! It will be the honor of a lifetime to serve in your next administration. Thank you for everything you have done and continue to do for our country. @realDonaldTrump
I am thrilled to work alongside the brilliant @DavidSacks to ensure that this industry… pic.twitter.com/DWzU6vO2Oe
— Bo Hines (@BoHines) December 22, 2024
Like Hoskinson, other industry leaders, including MicroStrategy’s Michael Saylor, have also congratulated Hines on the appointment.
Trump’s appointment of Hines aligns with his administration’s strategy to include pro-crypto figures in key roles. Reports indicate that executives from major firms like Ripple, Kraken, and Circle, as well as venture capital giants Paradigm and a16z, are vying for seats on the council.
While the council’s exact structure is still under deliberation, it is likely to operate under the National Economic Council or as an independent body. Its mandate will include advising on digital asset policies, collaborating with Congress, and coordinating with regulatory agencies. Many industry stakeholders view the council’s formation as a crucial step toward regulatory clarity and growth in the digital economy.
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