This week President Donald Trump tapped Mick Mulvaney, his administration’s budget director, to serve as acting White House chief of staff. Notably, Mulvaney has made past comments that suggested strong support for bitcoin. But anyone expecting Mulvaney to be an impactful White House bitcoin crusader should have their doubts, practically speaking.

China is, by some distance, the undisputed world leader in bitcoin mining — with Chinese mining pools controlling more than 70% of the bitcoin network's collective hash rate, the measuring unit of the processing power of the bitcoin network.

The Trump administration is reaffirming its commitment to blockchain as a technology with the potential to improve U.S. government operations.