Howard Lutnick’s Crypto Influence as US Commerce Secretary
What Howard Lutnick’s Appointment Means for Bitcoin & Crypto Bitcoin Advocate Howard Lutnick Becomes US Commerce Secretary – What It Means for CryptoHoward Lutnick, a well known supporter of Bitcoin who was formerly the CEO of Cantor Fitzgerald, has now become the Commerce Secretary in the US. His confirmation as secretary was with a 51 to 45 vote by the Senate. His new role gives him a say in economic policies, including trade and digital assets. Since he has backed Bitcoin for years, many wonder how his leadership will affect crypto adoption and regulations in the US.A Pro-Crypto Voice in a Key Government RoleLutnick has often compared Bitcoin to gold. He believes it is a valuable asset and should be traded freely worldwide. Speaking at a Bitcoin conference, he said, "Bitcoin is like gold and should be free trade everywhere." His new position could help shape policies that support cryptocurrency growth and regulation.During his confirmation hearing, Lutnick also discussed about stablecoins. He said US dollar-backed stablecoins should be backed by US Treasuries and undergo regular audits to ensure transparency. This could have a potential cascading impact on the crypto world, more specifically when his prior firm, Cantor Fitzgerald, manages US Treasury deposits of Tether. One can say Lutnick’s push for stablecoin transparency aligns with recent efforts, as Tether joins lawmakers on stablecoin rules to shape policy.Lutnick’s Role in Trade and Crypto RegulationsAs Commerce Secretary, Lutnick will handle trade policies and economic strategies. While his job does not directly focus on crypto, his influence could impact businesses dealing with digital assets. The US crypto industry has been dealing with unclear regulations, and many hope he will support policies that make it easier for companies to operate.Lutnick is also a strong supporter of tariffs—taxes on imported goods. He has expressed support for Trump’s trade policies, including Trump tariffs announcement on China and other countries. He believes these policies create "fair trade." It is unclear how these trade policies might connect with crypto regulations, but his position will be closely watched by the industry.What’s Next for Bitcoin Under Lutnick’s Leadership?Lutnick's appointment has created anticipation in the crypto community about whether he takes any steps to support Bitcoin and stablecoins. Although in his capacity, he does not have direct control over the crypto rules, his finance background and strong support for Bitcoin make him an important member of the game. The real question is whether his pro-Bitcoin stance will translate into legislation that favors the crypto market.With him starting to take up office, investors and crypto leaders will search for hints of possible changes in regulations. Many people are speculating that there will be much-needed clarity injected into the industry under his watch, as well as breathing new life into Bitcoin more acceptance into mainstream finance. Also read: ZOO Crypto Listing Date Confirmed: Claim Your $ZOO Tokens Now