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Bergen County resident J. Christopher Giancarlo, former chairman of the federal Commodity Futures Trading Commission, is being eyed for a “crypto czar” position in the Trump administration.
“It is an honor to be considered for such an important post,” Giancarlo told NorthJersey.com in a text message, but declined to comment further.
Giancarlo, 65, was born in Jersey City and was a member of the 1977 graduating class of Englewood’s Dwight-Englewood High School.
He was previously a council member in Haworth, and is co-chair of the digital practice at the Wall Street law firm Willkie Farr & Gallagher. Giancarlo’s consideration was first reported by Fox News.
Giancarlo, a Republican, wrote the book “Crypto Dad” and has criticized several aspects of the Dodd-Frank Act of 2008 that was prevent the sort of risks taken by Wall Street entities which led to the 2008 financial meltdown.
A dedicated crypto post at the White House would be another major win for an industry that has moved from the fringes to the mainstream in just a few years.
A representative for the Trump transition team did not immediately return an email Friday morning seeking comment for this story.
President-elect Donald Trump spent his campaign courting the cryptocurrency vote, accepting crypto cash and vowing to fire SEC Chairman Gary Gensler, who took a tougher approach with regulating cryptocurrency.
Without naming Trump, Gensler said yesterday on X, formerly Twitter, that he will step down on Jan. 20, 2025, the date of Trump’s inauguration.
Cryptocurrencies rose sharply after the announcement, The Guardian reported.
Trump’s social media company TruthSocial is reportedly in talks to buy crypto trading firm Bakkt.
Meanwhile, crypto companies from Ripple to Kraek and Circle are jostling for a seat on Trump’s promised crypto advisory council, seeking a say in his overhaul of U.S policy.
This article contains material from USA Today and Reuters
Daniel Munoz covers business, consumer affairs, labor and the economy for NorthJersey.com and The Record.
Email: [email protected]; Twitter:@danielmunoz100 and Facebook