Washington, Dec 23 (Agency) President-elect Donald Trump has picked Bo Hines, a Yale University graduate and former college football player, to serve as executive director of the newly formed Presidential Council of Advisers for Digital Assets, or the Crypto Council.”Bo Hines will be the Executive Director of the Presidential Council of Advisers for Digital Assets (the ‘Crypto Council’), a new advisory group composed of luminaries from the Crypto industry, and chaired by our Crypto Czar, David Sacks,” Trump said on Truth Social on Sunday. Hines, 29, will work together with Sacks “to foster innovation and growth in the digital assets space, while ensuring industry leaders have the resources they need to succeed,” the statement read.Hines was a candidate for election to the US House of Representatives to represent a North Carolina congressional district.
He lost in the March 2024 Republican primary. Trump’s return to the White House and the active support of the cryptocurrency lobby may bring a major change to the regulation of digital assets in the United States, marking the first time the crypto industry receives the open backing of a US administration. Republicans have also long discussed the possibility of creating a strategic bitcoin reserve. A presidential election took place in the United States on November 5. Republican candidate Trump, who served as the US president from 2017-2021, was declared the winner by all leading race callers and networks. Democratic candidate Kamala Harris conceded defeat in an address to supporters. The Electoral College voted in accordance with the will of the voters on December 17, while the new Congress will approve the results of the vote on January 6. The presidential inauguration will take place on January 20.