Bo Hines, Executive Director of the President's Advisory Council on Digital Assets, announced his departure to return to the private sector.
The White House is facing a significant change in its cryptocurrency policy executive team as Bo Hines, Executive Director of the President's Advisory Council on Digital Assets, announces his resignation to return to the private sector. This decision opens a wave of speculation about the successor amid the Trump administration's increasing hardline stance on the cryptocurrency sector.
Since January, Hines has been responsible for consultations with the cryptocurrency industry and has actively contributed to shaping the administration's digital asset policy framework. In a post on X on Sunday, he stated that serving under President Trump and working alongside "AI and crypto czar" David Sacks was "a lifetime honor."
According to journalist Eleanor Terrett, Deputy Director Patrick Witt is expected to take on this role, although there has been no official decision from the White House. The council's work is expected to continue uninterrupted until an official replacement is found, however, the White House has not announced a timeline for the appointment and has not responded immediately to requests for comment.
Challenges and opportunities for the successor
Public interest lawyer and CEO of AR Media Consulting Andrew Rossow emphasized the importance of this position: "How Witt interacts with lawmakers and international partners will be crucial." He warned that the successor could "either advance or further undermine and harm America's position as a leading country in blockchain policy, especially as other regions are rapidly clarifying their legal environments."
Ray Song, founder of the liquid staking protocol aPriori, agrees that a cryptocurrency-supportive personnel "could accelerate the current policy momentum; conversely, a lack of experienced choice could dissipate some of the progress made." This is particularly important as the administration is in the process of establishing key policies for the digital asset industry.
However, Hillary Adler, co-founder and chief commercial officer of BitcoinOS, believes that maintaining personnel stability may be difficult, as "individuals often leave or are removed from the Trump administration continuously." She emphasized that "any candidate must understand from the outset that they need to align with Trump on cryptocurrency policy. A person who is both loyal and capable of execution is a key factor for maintaining this position long-term."
During his tenure, Hines achieved significant milestones, including meeting with key stakeholders in the industry, coordinating interagency discussions on stablecoin oversight and market integrity. He also oversaw the passage of the GENIUS Act, establishing a legal framework for USD-pegged stablecoins, and the release of the administration's comprehensive Digital Asset Policy Report.
Hines expressed gratitude to the cryptocurrency industry for its "sustained support" and committed to continue advocating for the industry as it "grows in the U.S." He also expressed pride in the council's work to promote the digital asset agenda and the administration's cryptocurrency policy initiatives, although the policy report did not mention the prospect of the U.S. establishing a national Bitcoin reserve fund.