Under his administration, Trump plans to implement more crypto-friendly regulations by establishing a new position in the White House dedicated to crypto; he has appointed David Sacks.
President-elect Donald Trump has revealed that David Sacks from venture capital firm Craft Ventures will take on the role of the White House’s AI and crypto czar. This newly created position has emerged as Trump seeks to position the U.S. as the global leader in cryptocurrency.
Sacks will oversee the regulatory landscape for artificial intelligence and cryptocurrencies, along with developing legal frameworks for both fields. He will also chair the Presidential Council of Advisors on Science and Technology.
“I am excited to announce that David O. Sacks will serve as the ‘White House A.I. & Crypto Czar.’ In this vital role, David will steer policy initiatives for the administration in the fields of Artificial Intelligence and Cryptocurrency, which are essential to maintaining America’s competitive edge,”
Trump stated in his Truth Social post on December 6
The new position aims to enhance advocacy for cryptocurrency and align closely with the president’s directives. Sacks will act as a bridge between Trump, Congress, and various crypto regulatory bodies, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
David Sacks backs Trump’s campaign
As reported by Bloomberg, Sacks plays a significant role in enhancing campaign funding from the tech sector, drawing on his experience as a venture capitalist in San Francisco. He also maintains a close rapport with Vice President-elect JD Vence.
In his new capacity, Sacks is expected to collaborate with Elon Musk, who heads the Department of Government Efficiency (D.O.G.E). Like Musk, Sacks, as a special government employee, is not required to publicly disclose his financial holdings and is limited to serving 130 days annually.
