Kevin Hassett emerges as a leading candidate for the next U.S. Federal Reserve chair…attention on impact on digital asset policy

As discussions about replacing the Chair of the U.S. Federal Reserve intensify, Kevin Hassett, Director of the National Economic Council, has emerged as a leading candidate, increasing the likelihood of changes to the digital asset regulatory landscape. With internal White House discussions accelerating, financial markets and the virtual asset industry are watching for any shifts in policy direction.

According to Bloomberg on the 26th (local time), Hassett is regarded as the person who led the Digital Asset Market Working Group under the National Economic Council and guided the drafting of regulatory proposals. The working group presented recommendations this summer covering bank regulation, stablecoins, virtual asset custody structures, taxation, and responses to illicit finance. In particular, Hassett drew attention for publicly disclosing that he holds at least $1 million in Coinbase shares, highlighting his connections to the industry.

The report said President Donald Trump regards Hassett as a trusted aide and believes policy coordination would be easier if he were appointed Fed chair. White House spokeswoman Karoline Leavitt avoided a clear comment, saying, "The president's decision cannot be predicted." Sources familiar with internal Fed matters said that, in addition to Hassett, candidates include Federal Reserve Governor Christopher Waller, former Fed Governor Kevin Warsh, Fed Vice Chair Michelle Bowman, and Rick Rieder, BlackRock's chief investment officer for fixed income.

The Fed selection is expected to have a direct impact on digital asset regulation. Although President Trump has strongly criticized Jerome Powell over delayed interest rate cuts and policy uncertainty in the past year, removing a Fed chair requires "significant cause," so many expect any actual replacement process to proceed cautiously. If Hassett is nominated, discussions on stablecoins, virtual asset custody rules, and expanding financial institutions' participation in digital assets could accelerate.

The result of this appointment has emerged as a key variable that could determine not only next year's Fed interest rate stance but also the U.S. government's strategy for the digital asset industry.