Joe Biden’s administration has rehired former crypto adviser, Carol House, as an adviser on cybersecurity and “critical infrastructure policy,” according to her LinkedIn post.
House Stated, I am currently serving as the Special Advisor for Cybersecurity and Critical Infrastructure Policy at the White House National Security Council, and I am eager to make a meaningful impact in this role!”
Biden’s Crypto Stance; A Possible Shift in Policy Perspective?
House’s return to the White House fuels talks that the US President may be softening his administration’s strict policies on cryptocurrency.
For instance, House was a key figure who advised and co-authored Biden’s crypto policy titled, ‘Executive Order on Ensuring Responsible Development of Digital Assets.’ And now, Biden’s team has rehired her.
Secondly, the long-awaited Ethereum spot ETF was approved by Biden’s administration. In May 2024, the United States Securities and Exchange Commission (SEC) gave the green light to the applications from Nasdaq, CBOE, and NYSE to approve Ethereum spot ETFs.
The development gave US crypto investors the chance to freely list and trade shares of ether-based exchange traded-products which contributed to a demand surge in Ethereum.
Another significant factor is that the US SEC, under the administration of its Chair, Gary Gensler had earlier made claims that ETH was an unregistered security for at least a year. However, recently, under Biden’s administration, Ethereum software developer Consensys revealed that the SEC had dropped its probe into ETH as a security.
Additionally, some officials from Biden’s team will be attending the crypto meeting set for July. Officials like some members of the House and Senate, U.S. Congressman Ro Khanna, and prominent American businessman, Mark Cuban.
Sources also suggest that the Biden campaign is exploring the possibility of accepting crypto donations. This rumor came up after former US President Donald Trump revealed that he would be accepting donations of crypto assets like BTC, ETH, US Dollar Coin, and meme coins for The Trump campaign through a fundraising page.
Similar to former President Trump’s shift in his stance on cryptocurrency, from skepticism to support, President Biden may be reevaluating his position on the crypto space.
