White House Brings SEC Critic as Crypto Advisor, Major Regulatory Changes Ahead?

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by Bhushan Akolkar · 2 min read
White House Brings SEC Critic as Crypto Advisor, Major Regulatory Changes Ahead?
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In a potential attempt to re-engage with the crypto industry, the White House has rehired cybersecurity advisor Carol House as the crypto advisor.

In the period from 2021 to 2022, House served as the director of the National Security Council focused on cybersecurity and digital innovation.

She also advised President Joe Biden on his 2022 crypto-focused executive order. In comparison to other advisors within the Biden camp, House is relatively pro-crypto. Previously, she also criticized the Biden administration for the slow progress in bringing a clear regulatory framework for the American crypto firms.

During his recent podcast appearance at the Web3 working Group, House lashed out openly calling out the U.S. Securities and Exchange Commission (SEC) and adding:

“One area that I do find extremely frustrating has been [the] lack of clarity on [a] pathway to registration or to successfully operate in this space.”

After departing the White House in 2022, House has provided counsel to various entities, including Terranet Ventures, a venture capital firm active in crypto, and The Digital Dollar Project, a non-profit dedicated to researching central bank digital currencies (CBDCs).

After her reappointment as the crypto advisor Carol House announced that she would be returning to a new role on the National Security Council, as well as the Special Advisor for Cybersecurity and Critical Infrastructure Policy. In her latest post on LinkedIn, House wrote:

“[I am] honored to have been called to return to service of absolutely critical mission sets that are necessary to shape the future of secure and trustworthy digital economies”.

White House Response to Crypto Policies Faces Scrutiny

Ahead of the 2024 U.S. Presidential elections, the Biden administration’s approach to crypto policies has come under major scrutiny with the recent developments showing a major maneuver in the crypto approach.

Several prominent Democratic senators recently diverged from the White House stance to pass a resolution criticizing the SEC’s management of crypto regulations. President Biden subsequently vetoed the resolution, defending the SEC’s regulatory decisions.

In contrast, Republicans, including former President Donald Trump, who is expected to challenge Biden in November, have increasingly embraced crypto as a potential wedge issue for the election. This shift in focus appears to have influenced the White House to recalibrate its approach towards a more conciliatory stance on crypto in recent weeks.

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