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David Sacks Outlines Priorities as White House AI and Crypto Czar
In a pivotal role as the newly appointed AI and Crypto Czar, David Sacks is spearheading efforts to shape regulations for digital assets, with a particular emphasis on stablecoins. During a recent appearance on CNBC’s “Closing Bell Over Time,” Sacks highlighted the administration’s commitment to advancing legislation in Congress that would deliver a much-needed regulatory framework for the burgeoning digital asset ecosystem.
“We are strongly focused on moving legislation through the House and the Senate this year,” Sacks stated, emphasizing the timeline for these initiatives. “While the process can be time-consuming, I remain optimistic that we can make significant strides in the next six months.”
Sacks’ remarks coincided with a press conference he attended alongside leaders from both the House and Senate committees on banking and finance, where early objectives for crypto policy were discussed. Joined by notable lawmakers, including Sen. Tim Scott (R-S.C.) and Rep. French Hill (R-Ark.), Sacks articulated a vision for a promising future in the digital asset landscape.
At the forefront of their agenda is a stablecoin bill introduced by Sen. Bill Hagerty (R-Tenn.), aimed at establishing a “clear regulatory framework” for stablecoins—cryptocurrencies pegged to real-world assets such as the U.S. dollar. This legislative push reflects a growing interest in enhancing U.S.-based stablecoin activity to bolster the dollar’s global dominance in digital finance.
Advocates, including Sacks, argue that promoting U.S. stablecoin issuance presents significant economic opportunities. Such measures could potentially generate trillions of dollars in demand for the U.S. dollar and help stabilize long-term interest rates.
In his discussions about future initiatives, Sacks also revealed a priority for evaluating the “feasibility of a bitcoin reserve,” a concept championed by President Donald Trump during his campaign. He clarified that while this idea is under consideration, no concrete commitments have been made yet.
In a related development, the Securities and Exchange Commission (SEC) recently announced a strategic shift in its approach to regulating digital assets. Under new leadership, the SEC is now open to dialogue with all stakeholders interested in cryptocurrency matters, aiming to distinguish its current stance from the adversarial position taken by former Chair Gary Gensler.
SEC Commissioner Hester Peirce, who now oversees a newly formed Crypto Task Force, emphasized the importance of fostering a transparent regulatory environment that serves both protective and innovative purposes. In her statement titled The Journey Begins, Peirce outlined the task force’s goals, which include clarifying asset classifications, enabling regulatory pathways for token issuers, and examining key aspects of crypto lending and cross-border regulations. She affirmed that while encouraging industry growth is a priority, the SEC remains vigilant against fraudulent practices.
The SEC is actively soliciting public input on these matters. Through written feedback and meeting requests, all stakeholders are encouraged to participate in shaping the regulatory landscape.
Tuesday’s press conference marked a significant policy milestone for Sacks following his appointment in December. Although he does not directly influence regulatory agencies or congressional allocations, Sacks’ connections to both the White House and figures like Elon Musk position him as an influential force within the administration.
Despite being a former critic of Trump, Sacks played a prominent role in fundraising efforts for the president in June, helping to secure $12 million for the Republican campaign. His presence in Washington during the recent inauguration and attendance at industry events, where he proclaimed the end of the “war on crypto,” further indicates his evolving relationship with the current administration.
Sacks has a history of involvement in digital currencies—he stood by President Trump as the latter signed a significant executive order on digital assets in his first week in office. As his tenure progresses, the administration’s moves on cryptocurrency regulation are being closely watched by advocates and skeptics alike.
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