In a bold move to further solidify his administration’s stance on cryptocurrency and artificial intelligence, U.S. President-elect Donald Trump has appointed venture capitalist David Sacks as the White House’s AI and crypto czar. This newly created position reflects Trump’s commitment to making the United States a global leader in the crypto industry.
Sacks, a prominent figure in the technological industry based in San Francisco, is expected to play a crucial role in shaping crypto-friendly regulations and legal frameworks under the Trump administration. In addition to overseeing artificial intelligence and crypto regulations, Sacks will also lead the Presidential Council of Advisors for Science and Technology, highlighting the importance of these sectors to American competitiveness.
Trump’s decision to appoint Sacks as the White House’s AI and crypto czar comes at a time when the crypto industry is gaining increasing attention and scrutiny from regulators. By creating this new position, Trump aims to provide better advocacy for the crypto industry and strengthen communication between the White House, Congress, and relevant agencies such as the Securities and Exchange Commission (SEC) and the Commodity and Future Trading Commission (CFTC).
Sacks’ close relationship with Vice President-elect JD Vence and his previous role in bolstering campaign funds for Trump make him a strategic choice for this position. His appointment also signals a collaborative effort with prominent figures in the tech industry, such as Elon Musk, who will work alongside Sacks as the Director of the Department of Government of Efficiency (D.O.G.E).
As a special government employee, Sacks will have the flexibility to serve a maximum of 130 days per year without publicly disclosing his assets. This arrangement allows him to focus on his responsibilities as the White House’s AI and crypto czar while maintaining his ties to the private sector.
Overall, Trump’s selection of David Sacks as the White House’s AI and crypto czar underscores the administration’s commitment to fostering innovation and growth in the crypto industry. With Sacks at the helm, the United States is poised to make significant strides in shaping the future of artificial intelligence and cryptocurrency regulation.