White House crypto adviser Bo Hines announces departure

By Kanishka Singh

WASHINGTON (GWN) -Bo Hines, who headed Republican President Donald Trump‘s Council of Advisers on Digital Assets, said on Saturday he was leaving his current function and returning to the personal sector.

Late last month, a cryptocurrency working group led by Hines and including a number of administration officers outlined the Trump administration’s stance on market-defining crypto laws and called on the U.S. securities regulator to create new guidelines particular to digital belongings.

Shortly after taking workplace in January, Trump had ordered the creation of the crypto working group and tasked it with proposing new rules, making good on his marketing campaign promise to overhaul U.S. crypto coverage.

“Serving in President Trump’s administration and working alongside our brilliant AI & Crypto Czar @DavidSacks as Executive Director of the White House Crypto Council has been the honor of a lifetime,” Hines said in a post on X on Saturday.

Sacks, the White House AI czar, praised Hines in response to the post saying his departure.

Hines has twice unsuccessfully run for Congress in North Carolina.

Trump last month signed a law to create a regulatory regime for dollar-pegged cryptocurrencies recognized as stablecoins, a milestone that may pave the best way for the digital belongings to change into an on a regular basis approach to make funds and transfer money.

Hines was a backer of that laws, dubbed the GENIUS Act.

(Reporting by Kanishka Singh in Washington; Editing by Nia Williams)