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Bergen resident eyed for Trump 'crypto czar' position

By: Daniel Munoz
NorthJersey.com
USA Today Network - New Jersey

..... 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 as 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 cerated to prevent the sort of risks taken by wall Street entities that led to the 2008 financial meltdown.
..... A dedicated Crypo 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 immediate return an email Friday [11/22/2024] 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 Thursday [11/21/2024 on X, formerly Twitter, that eh will step down on January 20, 2025, the date of Trump's inauguration.
..... Crytocurrencies rose sharply after the announcement. The Guardian reported.
..... Trump's social media copay Truth Social is reportedly in talks to buy crypto trading firm Bakkt.
..... Meanwhile, crypto companies form Ripple to Kraek and Circle are jostling for a seat on Trump's promised crypto advisory council, seeking a say in this 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 munozd@northjersey,com; Twitter X; @danialmunoz100 and Facebook.

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