In a surprise move, U.S. President Donald Trump has picked Stephen Miran for a temporary role at the Federal Reserve, the central bank of the United States.
This is a pretty big deal for the crypto because Miran supports cryptocurrencies and wants fewer rules holding them back.
Miran’s appointment is largely perceived by the industry as a pro-crypto move, in that the US government could become friendlier to Bitcoin, Ethereum, and other digital assets.
Who Is Stephen Miran?
Stephen Miran is an economist with a Ph.D. from Harvard University, which means he’s deeply trained in how money, inflation, and markets work.
He’s worked on Wall Street and also in the U.S. Treasury Department, which is the government office that handles the country’s finances.
Right now, he’s the Chair of the Council of Economic Advisers, a top group that gives advice to President Trump on the economy.
Miran has been picked to temporarily replace Adriana Kugler on the Federal Reserve Board of Governors.
His term would last until January 31, 2026, and he needs to be confirmed by the U.S. Senate before starting.
Fewer Rules To Support Growth
Stephen Miran has been supporting crypto for a long time. He believes that digital assets like Bitcoin and Ethereum can help grow the U.S. economy. That is, only if the government doesn’t get in the way.
He thinks that stringent financial regulations stop smart people from building new things. Instead of helping, these rules often slow down progress.
Back in 2023, Miran wrote on X (previously Twitter) that many big companies, like Uber, Airbnb, and even the crypto industry itself, grew big only because they found ways around strict rules.
Miran has also spoken about big events in the industry. For example, when Binance CEO Changpeng Zhao (also known as CZ) stepped down, he said the company had made serious mistakes.
But even then, Miran still said the U.S. government should make crypto rules simpler, not harder.
His views are completely different from people at the Securities and Exchange Commission (SEC).
A lot of people in the crypto world feel the SEC is too strict and blocks new ideas. Miran seems to want the opposite: less red tape, more freedom, and more space for people to build new things in crypto.
Why Traders and the Market Care About Stephen Miran’s Appointment
Even though Miran’s role is temporary and still needs Senate approval, the market reacted fast.
After the news, Bitcoin rose over 2%, crossing $117,000. Ethereum also gained, signaling that traders might think Miran’s appointment is good for crypto prices.
Why?
Because Miran wants lower interest rates. That would help prices go up. And consequently, people would be more willing to invest in assets like Bitcoin or Ethereum.
Moreover, when someone in the Fed supports crypto, it sends a strong message that digital assets are being taken more seriously by the U.S. government.
His appointment could also impact upcoming Federal Reserve meetings, where the board decides whether to raise or cut interest rates.
If confirmed, Miran would get to vote at the September meeting. That vote could be important if the board is split.
Even if he doesn’t stay long, Miran’s presence alone sends a clear message: crypto is becoming part of the U.S. economic policy.
And that could mean big changes in the next few years, especially if Trump returns to the White House.
