Donald Trump Names Former PayPal COO David Sacks as AI and Crypto Czar
Donald Trump announced on Thursday that he has appointed former Chief Operating Officer of PayPal, David Sacks, as his artificial intelligence and cryptocurrency czar. This is a further step towards revamping US policies in these areas.
In a post on his social media platform, Truth Social, Trump said that Sacks will be responsible for creating a legal framework that will provide clarity and support for the cryptocurrency industry, allowing it to grow and flourish in the US.
Along with other officials in Trump’s incoming administration, such as the chairs of the Securities and Exchange Commission and Commodity Futures Trading Commission, the crypto czar will form a newly created crypto advisory council that will work on reshaping US policy regarding digital currency.
Trump’s supporters in the tech industry have expressed their desire for minimal regulation around AI and cryptocurrencies such as Bitcoin, believing that excessive rules will hinder the growth and innovation of these sectors.
This move by Trump comes after his nomination of Paul Atkins, a prominent Washington lawyer and crypto advocate, as the head of the SEC on Wednesday, which was met with praise from the industry.
