Trump Appoints Crypto Advocate Stephen Miran to Lead Economic Advisory Council
In a recent development from the incoming administration, President-elect Donald Trump has named Stephen Miran as the new chair of the Council of Economic Advisors (CEA).
Miran, known for his pro-crypto stance and previous tenure in the Trump White House as a Treasury official, currently serves as an economist at Hudson Bay Capital Management.
The CEA is tasked with advising the president on economic policies, analyzing trends, and developing strategies to promote economic growth and stability.
Miran’s appointment is seen as a move to bolster the administration’s focus on cryptocurrency as an innovative financial sector.
He has openly criticized existing crypto regulations in the U.S. and advocates for reforms to promote technological advancements.
This announcement follows Trump’s declaration to transform the U.S. into the “crypto capital of the planet.”
He has also recently appointed Paul Atkins, another supporter of crypto, as the chair of the Securities and Exchange Commission.
Atkins is known for his previous role as Commissioner at the SEC during George W. Bush’s presidency.
Further strengthening his commitment to cryptocurrency, Trump introduced Bo Hines as the Executive Director of the Presidential Council of Advisers for Digital Assets.
Despite Hines lacking a crypto advocacy background, his collaboration with David Sacks, the newly appointed “Crypto Czar,” is anticipated to push forward the administration’s cryptocurrency agenda.
This was confirmed in a statement by Trump on Truth Social, emphasizing the strategic role Hines and Sacks will play in this sector.
Miran has also been vocal about his disagreements with Fed Chair Jerome H. Powell, particularly regarding the recommendation for a stimulus bill in October 2020, which Miran opposed on both political and economic grounds.
This reshuffling in major economic advisory positions underscores a clear shift towards embracing cryptocurrency at the highest levels of economic strategy planning.