Bo Hines, who headed the council of advisers on the digital assets of Republican President Donald Trump, announced on Saturday that he left his current functions to return to the private sector.
At the end of last month, a working group on cryptocurrencies led by Hines, and including several administration officials, presented the position of the Trump administration on key legislation for the cryptos market and called on the American financial market regulator to develop new rules specific to digital assets.
Shortly after his entry into office in January, Donald Trump had ordered the creation of this working group on cryptocurrencies, entrusting him with the mission of offering new regulations, thus honoring his campaign promise to reform American policy in terms of cryptoactives.
“Serving in the administration of President Trump and working alongside our brilliant IA and cryptocurrency manager, @davidsacks, as an executive director of the Crypto Council of the White House, was the honor of a life,” said Hines on Saturday in a message published on X.
David Sacks, the AI manager at the White House, praised Hines in response to his message announcing his departure.
Hines presented itself twice without success at the Congress in North Carolina.
Last month, Trump signed a law creating a regulatory regime for cryptocurrencies backed by the dollar, called stablecoins, a major advance that could open the way to the daily use of these digital assets for payments and money transfers.
Hines was a fervent support for this legislation, called Genius Act.