Trump aims to build more crypto-friendly regulations under his administration by creating a new crypto position in the White House; he picked David Sacks.
U.S. President-elect Donald Trump announced that venture capitalist Craft Ventures David Sacks will be the White House’s AI and crypto czar. This position has been newly added to government bodies after Trump aimed to make the U.S. crypto capital of the world.
Sacks will guide the artificial intelligence and crypto regulations, as well as work on legal frameworks for both industries. He would also lead the Presidential Council of Advisors for Science and Technology.
“I am pleased to announce that David O. Sacks will be the “White House A.I. & Crypto Czar.” In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness,”
Trump says in his Truth Social post on Dec. 06
The position is expected to provide better crypto advocates, along with the president’s directions. Sacks would also serve as a liaison between Trump, Congress, and related crypto agencies, including the Securities and Exchange Commission (SEC) and the Commodity and Future Trading Commission (CFTC).
David Sacks supports Trump’s campaign
According to Bloomberg, Sacks is one of Trump’s key roles in bolstering campaign funds among the technological industries, as he worked as a venture capitalist based in San Francisco. He is also a having a close relations with Vice President-elect JD Vence.
In his new position, Sacks would also work closely with Elon Musk as the Director of the Department of Government of Efficiency (D.O.G.E). As a special employee of the government, like Elon, Sacks does not need to publicly close his assets and can serve a maximum of 130 days per year.
