Crypto Community applauds After Trump Selects Stephen Miran as Chair of Council of Economic Advisers

In a weekend announcement, US President-elect Donald Trump reaffirmed his support for the cryptocurrency sector and emerging technologies by appointing key figures to influential roles in his administration.

On Dec. 22, Trump named Economist Stephen Miran as the head of the Council of Economic Advisors and tapped Bo Hines to serve as Executive Director of the newly established Crypto Council. These appointments signal a forward-looking approach to economic policy and innovation in the digital asset and AI sectors.

Council of Economic Advisors

Stephen Miran, a seasoned economist and former senior economic policy advisor in Trump’s first term, brings a wealth of experience to the Council of Economic Advisors.(CEA)

The CEA's role is to advise the president on economic issues, including evaluating the effectiveness of federal policies and programs, analyzing economic trends, and crafting recommendations to foster growth and stability.

After Trump's announcement, Miran expressed this optimism on his new role, saying:

“I look forward to working to help implement the President’s policy agenda to create a booming, noninflationary economy that brings prosperity to all Americans."

Miran has long been an advocate for crypto, recently appearing on Blockworks' Forward Guidance podcast. He has previously tweeted about how crypto regulations need to be reformed in the U.S to allow for innovation to flourish.

Miran has also previously criticised Fed Chair Jerome Powell as "wrong politically and economically" for urging congress to pass a stimulus bill on October 2020.

His appointment has been well-received in the crypto community, with industry leaders like Steven Lubka of Swan Bitcoin lauding the move as a bullish signal for Bitcoin and blockchain projects.

The Crypto Council

To further solidify his administration’s commitment to the digital asset sector, Trump introduced Bo Hines as the first Executive Director of the Crypto Council.

Hines, a former college football standout, will collaborate closely with David Sacks, Trump’s newly designated Crypto and AI Czar. Together, they aim to foster a regulatory and economic environment that enables the crypto industry to thrive.

In a statement, Trump said:

“Together, [Hines and Sacks] will create an environment where this industry can flourish and remain a cornerstone of our Nation’s technological advancement.”

Hines expressed excitement for his new role, emphasizing the importance of innovation in shaping the future of the US economy.

“I am thrilled to work alongside the brilliant David Sacks to ensure that this industry will thrive.”

Trump's appointment to lead the AI run

In a parallel effort to maintain US leadership in artificial intelligence, Trump appointed Sriram Krishnan, a former partner at Andreessen Horowitz, as Senior AI Policy Adviser.

Krishnan’s responsibilities will include coordinating AI initiatives across government agencies and developing strategies to ensure US dominance in the AI space.

These appointments underline Trump’s strategic focus on positioning the US as a global leader in both digital assets and AI innovation, paving the way for groundbreaking advancements in these transformative fields.