U.S. President-elect Donald Trump has appointed former PayPal COO David Sacks as his “White House A.I. & Crypto Czar,” a key position aimed at shaping U.S. policy on artificial intelligence and cryptocurrency. Sacks will focus on developing a legal framework for the crypto industry, offering the clarity it has long sought to foster growth in the U.S.
Trump’s administration is expected to bring significant changes to U.S. policy on digital currencies, with figures like Sacks, along with nominees for the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), set to play pivotal roles. A newly established crypto advisory council will further shape the direction of crypto regulation.
Sacks is known for his hands-on approach to both crypto and A.I., and his appointment is seen as a move to maintain a light touch on regulation, while still introducing safeguards for critical applications of A.I. He has long been an advocate for minimal regulation, aligning with Trump’s goal to keep growing tech sectors, including crypto, free from excessive government oversight.
This move comes after Trump’s recent announcements, including his nomination of Paul Atkins as SEC chair, signaling strong support for the cryptocurrency industry. Bitcoin’s recent surge to over $100,000 is seen as a reflection of investor confidence in a more crypto-friendly U.S. administration.
Sacks, who co-founded venture firm Craft Ventures and is a member of the “PayPal Mafia” alongside Trump allies Peter Thiel and Elon Musk, has been an early crypto evangelist, calling Bitcoin’s rise a revolution in the digital economy. He will also lead the White House advisory council on science and technology.
