Donald Trump, the U.S. President-elect, has named former PayPal COO David Sacks as the “White House A.I. & Crypto Czar.” The appointment signals a major shift in U.S. policy toward artificial intelligence and cryptocurrencies. Sacks, a co-founder of Craft Ventures and a prominent figure in the “PayPal Mafia,” is set to develop a legal framework to provide much-needed clarity for the crypto industry.
Focus on Light Regulation
Sacks is expected to adopt a “light touch” regulatory approach, prioritising the use of AI in critical applications while steering clear of stringent rules on AI model development. His strategy aligns with Silicon Valley’s demands for minimal interference in innovation, fostering a fertile environment for emerging technologies.
Crypto-Friendly Administration
Trump’s administration aims to make the U.S. the “crypto capital of the planet,” with plans to create a national Bitcoin reserve. Recent nominations, including crypto advocate Paul Atkins as SEC chair, reflect this commitment. Trump’s pro-crypto stance has already bolstered market sentiment, with Bitcoin reaching a historic $100,000 milestone.
Revolutionising Finance and Technology
Sacks, an early crypto evangelist, has described cryptocurrencies as heralding the “internet of money.” His leadership in crafting balanced regulations for both AI and crypto is expected to pave the way for unprecedented growth in these sectors.
With the addition of Sacks, Trump’s administration is betting big on positioning the U.S. as a global leader in tech and finance innovation.
