President Trump's advisory council on cryptocurrency, established during his first week in office, is facing potential setbacks, with reports indicating it might be scrapped entirely. Instead, Trump's team may opt for 'policy summits' to engage with industry stakeholders on legislation. Sources suggest that if a council is formed, it would likely consist of government employees rather than industry executives, as the team seeks to avoid conflicts arising from having too many stakeholders involved. This approach aims to balance the interests of various industry segments while preventing alienation of significant campaign donors. The House Financial Services GOP retreat recently highlighted similar engagements with industry representatives, suggesting a pivot towards more inclusive discussions around crypto policy. The situation surrounding the advisory council remains fluid, with ongoing monitoring for developments as the administration navigates the complexities of the crypto landscape.

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