Trump AI and “crypto czar” David Sacks discuss the administration’s crypto policies and future ambitions for digital currency during an exclusive interview on “The Evening Edit.”
President Donald Trump’s cryptocurrency czar David Sacks rejoices after the president signed an executive order Thursday aimed at clarifying industry regulations, praising his embrace of the industry while criticizing the Biden administration for chasing her away.
In an exclusive interview with FOX Business’ “The Evening Edit” on Friday, Sacks said Trump’s actions showed he was keeping his campaign promise to make the United States the “crypto capital of the world.”
Sacks said Trump’s crypto EO directs his task force to produce a regulatory framework to encourage innovation and crypto in the United States, rather than driving the industry to other countries.
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“Over the last four years, the Biden administration has basically gone after and persecuted crypto companies, really pushing them overseas,” Sacks told host Edward Lawrence. “I’ve heard so many outrageous stories from founders and entrepreneurs that the Biden administration wasn’t telling them what the rules of the road were, and then they would be sued. And what the industry wants more than anything else is regulatory clarity.”
David Sacks, CEO of Zenefits, speaks at TechCrunch Disrupt 2016 in San Francisco, California, United States, September 13, 2016. (Reuters/Beck Diefenbach / Reuters)
“They say, just tell us what the rules are. We’ll follow them,” Sacks said. And the Biden administration would never do that. And because of that, all innovation was essentially being offshored, and America was on the verge of losing this technology of the future. »
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Trump’s order creates the Presidential Task Force on Digital Asset Markets, which will develop a federal regulatory framework for digital assetsincluding stablecoins, and evaluate the creation of a national strategic stockpile of digital assets. It will be chaired by the White House AI and crypto czar and will include the Secretary of the Treasury, the chairman of the Securities and Exchange Commission (SEC), and other heads of relevant departments and agencies .
