Key Points
- Carol House, a critic of the SEC, has been appointed as Crypto Advisor by the White House.
- This move might signal significant regulatory changes in the American crypto industry.
Carol House, who served as the director of the National Security Council with a focus on cybersecurity and digital innovation from 2021 to 2022, has been appointed as Crypto Advisor by the White House.
House has a reputation for being relatively pro-crypto and has previously criticized the slow progress in establishing a clear regulatory framework for American crypto firms.
House’s Criticisms of the SEC
In a recent podcast appearance at the Web3 working Group, House openly criticized the U.S. Securities and Exchange Commission (SEC), expressing her frustration over the lack of clarity on the pathway to registration or successful operation in the crypto space.
After leaving the White House in 2022, House 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).
House’s Return to Service
Upon her reappointment as the crypto advisor, 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. She expressed her honor to return to service of critical mission sets that are necessary to shape the future of secure and trustworthy digital economies.
The Biden administration’s approach to crypto policies has come under major scrutiny, with recent developments indicating a major shift 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. However, President Biden 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.
