Industry organizations vying for a seat on Trump's cryptocurrency advisory committee have sparked consumer groups warning that one should not be both a judge and an athlete

According to Reuters, Trump has promised to establish a new committee as part of a crypto friendly government. Insiders say that his transition team is discussing how to build and equip the committee, as well as which companies should be included. According to multiple executives in the digital asset industry, numerous cryptocurrency companies such as Ripple, Kraken, and Circle are vying for seats on the cryptocurrency advisory committee promised by President elect Trump, seeking a say in his planned US policy reforms. But some consumer groups have warned that the cryptocurrency industry should not be both a referee and an athlete, and some sources say ethical considerations may slow down personnel appointments. But others argue that involving industry experts in key policy issues is meaningful. Trump has won industry support and campaign donations by promising to become a "crypto president" and ending Biden's crackdown on cryptocurrency companies accused of violating securities and anti money laundering laws by regulators. Trump is also pushing for an executive order to ensure that cryptocurrency companies can access banking services, end enforcement actions against them, and make other changes.