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President Donald J. Trump has announced that he will be naming Mick Mulvaney as the new acting White House Chief of Staff. Mulvaney is a well-known Bitcoin proponent and has previously expressed his support of blockchain technology.

MULVANEY: NEW ACTING CHIEF OF STAFF

Mick Mulvaney, who’s currently the director of the US Office of Management and Budget (OMB), has been named Acting White House Chief of Staff and will reportedly assume the position at the end of the year. He will be succeeding the post from John F. Kelly.

“I am pleased to announce that Mick Mulvaney, Director of the Office of Management & Budget, will be named Acting White House Chief of Staff, replacing General John Kelly, who has served our Country with distinction. Mick has done an outstanding job while in the Administration,” President Trump tweeted.

According to CNN, Mulvaney will not be resigning as director of the OMB while he is acting White House Chief of Staff. Citing sources familiar with the situation, CNN reports that it is President Trump who wants Mulvaney to keep his current role as OMB director as well. The latter has been occupying the position since February 2017.

GOOD NEWS FOR BITCOIN

Mulvaney is a well-known Bitcoin and blockchain proponent, spearheading the Blockchain Caucus – a soundboard for policy creation handling blockchain technology as well as the growing impact of virtual currencies.

Blockchain technology has the potential to revolutionize the financial services industry, the U.S. economy and the delivery of government services, and I am proud to be involved with this initiative,” Mulvaney previously stated.

Mulvaney is yet another appointment of President Trump who seems to be favoring the development of the cryptocurrency industry. In September Bitcoinist reported that the President has appointed Elad Roisman as an SEC commissioner.

Roisman has previously demanded regulations, which treat the industry “in a fair and transparent manner, provide clarity and certainty to the markets and investors.”