White House cryptocurrency position vacated by Bo Hines, Patrick Witt steps in as replacement.
New Executive at the White House Crypto Council
Bo Hines, who has been leading the White House Crypto Council since his appointment in December 2024, has announced his resignation. Hines, a former Yale University football player, will return to the private sector after a tenure marked by significant advancements in US digital asset policy.
Hines' time at the helm saw the production of a comprehensive 166-page report outlining policy priorities for digital asset regulation. The report, which included recommendations for taxation and banking rules, was a key step in shaping the future of the digital asset industry in the United States.
One of Hines' most notable achievements was championing the GENIUS Act, a key piece of regulation that was signed into law in July. The GENIUS Act provided a regulatory framework for stablecoins, a significant step forward in the mainstream adoption of digital assets.
Hines also worked on implementing Trump's executive order creating a Bitcoin strategic reserve. His efforts in this area are expected to have long-lasting impacts on the US's approach to digital assets.
In a recent tweet, Hines described his time as Executive Director as "the honor of a lifetime." He will, however, remain in a role as a special government employee, where he will continue to work on AI initiatives alongside AI and crypto czar David Sacks.
Patrick Witt is expected to replace Hines as the Executive Director of the White House Crypto Council. Witt, the current acting director of the Office of Strategic Capital (OSC) at the Department of Defense, is the favored successor. The transition is expected to significantly influence US crypto policy.
Eleanor Terret, a well-known figure in the digital asset community, tweeted that Witt is expected to take over the role. No official timeline has been announced for the transition from Hines to Witt.
Before his time in government, Witt played college football at Yale University. He briefly signed with the New Orleans Saints, offering a glimpse into his athletic background.
Hines' appointment followed Trump's early-term executive order to establish the council as part of a broader plan to overhaul US digital asset policy. The Office of Strategic Capital at the Department of Defense invests in emerging technologies, reflecting the government's growing interest in the digital asset space.
As the new Executive Director, Witt faces the challenge of continuing the work started by Hines and shaping the future of digital asset regulation in the United States.
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