There are also talks about appointing Teresa Goody Guillén, a blockchain expert, as a replacement for SEC Chair Gary Gensler, who Trump has pledged to dismiss.

President-elect Donald Trump's transition team is exploring the creation of a dedicated White House position focused on cryptocurrency policy.

As reported by Bloomberg, the team is currently vetting candidates for this role, which aims to enhance communication between the White House, Congress, and regulatory bodies like the SEC and CFTC.

The responsibilities of this new position are expected to include liaising with Congress and regulatory agencies, although specific details are still being defined.

Potential candidates for the role include Brian Brooks, a former executive at Coinbase, and Brian Armstrong, the current CEO of Coinbase, both of whom recently met with Trump.

Ryan Selkis, a crypto researcher, has initiated discussions on social media for community members to propose serious candidates for the position.

Trump has committed to firing Gensler on his first day in office, reflecting his administration's intent to reshape crypto regulation.

Following Trump's election victory, the crypto market has reacted positively, with Bitcoin nearing $100,000 and shares of Coinbase surging past $300, indicating optimism for a more favorable regulatory environment.

However, Trump's proposals may face scrutiny from regulators concerned about potential risks to retail investors, with critics warning against reduced enforcement in the crypto space.

Trump's Mar-a-Lago estate has become a hub for crypto lobbying, where industry leaders are discussing the need for this new position.

Summer Mersinger, a Republican CFTC commissioner known for her lenient stance on crypto regulation, is also being considered to lead the CFTC.

In a personal gesture, Trump has engaged with the crypto community by using Bitcoin to pay for burgers for his supporters at a New York bar.