Bitcoin News Today: White House Crypto Chief Steps Down as Bitcoin Reserve and Regulatory Plans Near Completion

Bo Hines, the executive director of the White House Crypto Council, has resigned after a tenure marked by significant developments in U.S. digital asset policy, including the release of a 166-page blueprint and the implementation of a federal stablecoin framework under the GENIUS Act. In a post on X, Hines announced his decision to step down and return to the private sector, calling his role “the honor of a lifetime” and highlighting his collaboration with David Sacks, the White House’s AI and crypto advisor [1].

Hines’s departure comes as the council moves to finalize key initiatives such as the creation of a Bitcoin strategic reserve and the expansion of regulatory clarity for the crypto industry. His contributions were praised by industry leaders, including Coinbase CEO Brian Armstrong and MARA Holdings chairman Fred Thiel, who commended his leadership and influence. Hines will remain a special government employee during the transition to assist with AI-related projects [1].

Hines’s likely successor is Patrick Witt, currently acting director of the Pentagon’s Office of Strategic Capital and deputy to Hines. Witt brings a background in strategic technology investment and is expected to ensure policy continuity in areas like banking compliance, stablecoin oversight, and the implementation of the GENIUS Act. While no official timeline has been released for Witt’s confirmation, his prior work alongside Hines suggests a continuation of the council’s roadmap [1].

The transition raises key questions about the future of interagency coordination and the pace of rulemaking based on the council’s blueprint. The development of the Bitcoin reserve will be particularly critical in defining custody, transparency, and operational standards. Markets are likely to view a smooth leadership transition as a positive signal for regulatory clarity, while delays could amplify uncertainty for businesses operating in the digital asset space [1].

Industry roundtables and the structure of working groups will also shape the council’s next steps. These dynamics could influence how swiftly the GENIUS Act’s provisions are rolled out and how effectively the administration maintains engagement with the crypto sector. As Witt moves into the role, stakeholders will be watching for formal confirmation and a clear signal of policy direction [1].

Source: [1] White House Crypto Boss Resigns — What’s Next for U.S. Digital Asset Policy? (https://coinmarketcap.com/community/articles/6899e357727de70d11bece68/)