White House crypto adviser Bo Hines announces departure

By Kanishka Singh

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

Late last month, a cryptocurrency working group led by Hines and including several administration officials outlined the Trump administration's stance on market-defining crypto legislation and called on the U.S. securities regulator to create new rules specific to digital assets.

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

"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 announcing 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 known as stablecoins, a milestone that could pave the way for the digital assets to become an everyday way to make payments and move money.

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

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

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