Biden rehires pro-crypto advisor Carole House ahead of election
President Joe Biden has reappointed Carole House, (pictured above), a well-known advocate for cryptocurrency, to his administration. House, who played a pivotal role in formulating Biden’s 2022 executive order on digital assets, will now serve as Special Advisor for Cybersecurity and Critical Infrastructure Policy at the White House National Security Council (NSC). Her return signals the administration’s intention to shape robust crypto policies as the 2024 U.S. presidential elections approach.
Biden turns to crypto
Carole House’s reappointment comes at a critical time for the Biden administration. As per her recent LinkedIn post, House expressed her enthusiasm about her new role, saying, “I am deeply honoured, humbled, and excited to return to government appointed in the Biden Administration, where I am serving as the Special Advisor for Cybersecurity and Critical Infrastructure Policy at the White House National Security Council.”
House’s tenure from 2021 to 2022 as Director of Digital Innovation at the NSC was marked by her significant contributions to the administration’s digital assets policy. She was instrumental in advising and co-authoring Biden’s executive order on crypto in 2022, which outlined the government’s approach to regulating digital assets.
Despite her supportive stance on cryptocurrency, House has been a vocal critic of the administration’s slow progress in establishing comprehensive crypto regulations. She has emphasized the need for more rigorous enforcement to tackle issues such as money laundering and illicit finance within the crypto space. Her focus on creating “secure and trustworthy digital economies” aligns with Biden’s aim to bolster the administration’s crypto policies ahead of the upcoming election.
House on Crypto
Carole House’s career is deeply rooted in cybersecurity and emerging technologies, with a particular focus on digital assets and decentralized technologies. Her extensive experience in the federal government includes serving as Chair of the Technology Advisory Committee (TAC) within the Commodities Futures Trading Commission (CFTC), where she co-chaired the digital assets and blockchain subcommittee. Additionally, House has worked on the development of central bank digital currencies (CBDCs) and remains an advisory board member of The Digital Dollar Project.
House’s private sector experience includes a two-year tenure as an executive at crypto venture firm Terranet Ventures. She also served on the virtual currency advisory board with the New York State Department of Financial Services. Her background in both public and private sectors makes her uniquely qualified to address the security and regulatory challenges posed by digital assets.
House’s emphasis on enforcement suggests that her return could lead to greater regulatory oversight of the crypto industry. This is significant given the U.S. Securities and Exchange Commission’s (SEC’s) recent enforcement actions in the crypto space. Her dual expertise in cybersecurity and digital asset innovation positions her well to support Biden’s efforts to adopt pro-crypto policies while ensuring robust regulatory frameworks.
The reappointment of Carole House is widely viewed as a strategic move by the Biden administration to appeal to crypto voters. With an estimated 40% of adult Americans having owned or currently owning cryptocurrency, this demographic could significantly influence the outcome of the 2024 presidential election.
Former President Donald Trump has actively courted crypto enthusiasts, making multiple pledges related to Bitcoin and other cryptocurrencies along his campaign trail. To counter this, industry leaders such as Pantera Capital and Uniswap have called on crypto voters to engage in the political process and urged Biden to implement pro-crypto policies.
As Biden and Trump prepare for their first national debate on June 27, 2024, the focus on crypto policies is expected to intensify. The Biden administration’s decision to bring House back on board highlights its recognition of the growing importance of digital assets and the need to secure the support of the crypto community in the upcoming election.
