Many encryption companies are vying for seats on Trump's Cryptocurrency Advisory Committee

According to Reuters, Trump has promised to establish a new committee as part of a crypto-friendly government. Insiders say his transition team is discussing how to build and staff this committee, and which companies should be included.

Several digital asset industry executives revealed that many crypto companies such as Ripple, Kraken, and Circle are vying for seats on the cryptocurrency advisory committee promised by President-elect Trump, seeking a voice in his planned US policy reforms.

Trump won the support of the industry and campaign donations by promising to become the "Crypto President" and ending Biden's crackdown on crypto companies accused by regulatory agencies of violating securities and anti-money laundering laws. Trump is also pushing for an executive order ensuring that crypto companies can access banking services, ending law enforcement actions against them among other changes.