Why Biden’s Reinstatement of Carole House as Crypto Advisor Matters in 2024

The Biden Administration has reinstated Carole House as a Special Advisor for Cybersecurity and Critical Infrastructure Policy at the White House National Security Council. House’s return highlights the administration’s renewed focus on cryptocurrency regulation.

Previously, she played a pivotal role in advising President Biden on his 2022 executive order on cryptocurrencies. In a LinkedIn post dated June 24, House expressed her enthusiasm, saying she is “deeply honoured, humbled, and excited to return to government.”

House brings a wealth of experience to her role. She served as the Director of Digital Innovation on the National Security Council from 2021 to 2022 and was a member of the Virtual Currency Advisory Board at the New York State Department of Financial Services.

Additionally, she holds a position on The Digital Dollar Project’s advisory board, a nonprofit dedicated to preparing the U.S. economy for a central bank digital currency (CBDC).

Criticism Over Delayed Crypto Policy

Carole House has been vocal about the Biden Administration’s delayed efforts in establishing a regulatory framework for the cryptocurrency sector.

During a recent Web3 Working Group podcast, she highlighted the challenges faced by the industry due to the lack of clear guidelines for registration. House’s appointment comes at a crucial time as the administration faces increased scrutiny over its handling of crypto policies.

Senior Democratic senators have expressed dissatisfaction with the Securities and Exchange Commission’s (SEC) approach to cryptocurrency regulation. This led to a resolution criticizing the SEC’s management, which President Biden vetoed, reaffirming his support for the SEC’s decisions.

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— McKnight's Senior Living (@_McKnightsSL) June 13, 2024

House’s return to the White House could signal a shift towards more structured and supportive crypto regulations.

Crypto Policies and the 2024 Presidential Election

The timing of the House’s appointment is significant, with the 2024 U.S. presidential election on the horizon. Cryptocurrency has emerged as a contentious issue, with potential implications for voter sentiment.

Former President Donald Trump, Biden’s likely opponent, has taken a clear stance in support of the crypto industry, alongside other Republicans.

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— Biden-Harris HQ (@BidenHQ) June 18, 2024

In contrast, Biden’s administration has faced criticism for its regulatory approach. However, according to The Block, Biden’s campaign is now exploring the possibility of accepting cryptocurrency donations, which could indicate a more supportive stance towards the sector.

As the election approaches, the contrasting positions of the candidates on cryptocurrency will likely become a focal point. House’s expertise and influence within the administration could play a crucial role in shaping the future of U.S. crypto policy.

In conclusion, Carole House’s reinstatement as a crypto policy advisor reflects the Biden Administration’s commitment to addressing the regulatory challenges facing the cryptocurrency industry.

Her return comes at a pivotal moment, with significant implications for the administration’s approach to crypto regulation and the upcoming presidential election.