Donald Trump

Artificial Intelligence

US President-elect Donald Trump has named former PayPal chief operating officer (COO) David Sacks as his AI and crypto Czar.
“David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness,” Trump said in a Dec. 6 post on his social platform, Truth Social. “David will focus on making America the clear global leader in both areas,” Trump added.
<img decoding="async" src="https://image.cnbcfm.com/api/v1/image/107248194-1685471658101-sacks.jpg?v=1733455806" alt="Trump says venture capitalist David Sacks will be AI and crypto 'czar'">
<h2 id="span-style-font-weight-400-david-sacks-is-tasked-with-designing-a-crypto-legal-framework-in-the-us-span">David Sacks Is Tasked With Designing A Crypto Legal Framework In The US</h2>
Crypto companies operating in the US have come under regulatory fire from the Securities and Exchange Commission (SEC) under the leadership of outgoing Chair Gary Gensler in recent years. In an effort to comply with the law, crypto leaders have called for a clear crypto regulatory framework for them to follow.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Congrats to my bestie <a href="https://twitter.com/DavidSacks?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@DavidSacks</a> on his new position as “White House AI &amp; Crypto Czar” 🚀 <a href="https://t.co/hWLiS9LH4y" rel="noopener noreferrer nofollow">pic.twitter.com/hWLiS9LH4y</a>
 — @jason (@Jason) <a href="https://twitter.com/Jason/status/1864838419681276106?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 6, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The call for clearer crypto policy has not been answered yet, which is something Trump seeks to address with Sacks’ appointment. One of the former PayPal COO’s&nbsp; main tasks will be to “work on a legal framework so the Crypto industry has the clarity it has been asking for,” <a href="https://insidebitcoins.com/news/bitcoin-breaks-100k-for-the-first-time-in-history-after-donald-trump-nominates-pro-crypto-paul-atkins-for-sec-chair" rel="noopener noreferrer nofollow">Trump</a> said.&nbsp;
Sacks will also be responsible for safeguarding online speech and steering America “away from Big Tech bias and censorship,” the incoming US president added.
<h2 id="span-style-font-weight-400-trump-embraces-the-crypto-market-span">Trump Embraces The Crypto Market</h2>
Trump embraced the crypto market during his 2024 presidential campaign, making a series of bullish promises throughout the year. This marked a change in stance toward the digital asset industry, which he had harshly criticized when in office previously.
One of the biggest promises made to the crypto space was that Trump would fire anti-crypto SEC commissioner Gensler on his first day in office. Gensler, however, took things into his own hands by announcing that he will be step down from his role as SEC Chair in January.
Along with Sacks’ appointment, Trump has also selected crypto backers such as Tesla founder and billionaire <a href="https://insidebitcoins.com/news/donald-trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-department-of-government-efficiency-doge-dismantle-government-bureaucracy" rel="noopener noreferrer nofollow">Elon Musk</a> into advisory roles while naming Paul Atkins as his pick for SEC Chair.
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Trump Names Former PayPal COO David Sacks As AI And Crypto Czar To Steer American Competitivenes

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