Samedia, Dec. 6–U.S. President-elect Donald Trump announced on Thursday the appointment of former PayPal Chief Operating Officer David Sacks as his “White House AI and Crypto Czar,” marking a significant step towards overhauling U.S. policy on the twin contentious fronts of our time.
“He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S.,” Trump stated on his social-media platform Truth Social, though he did not clarify whether “czar” was an official title.
Sacks, a prominent figure in the tech industry and part of the “PayPal Mafia” alongside Peter Thiel and Elon Musk, is expected to play a pivotal role in reshaping U.S. policy on digital currency. His appointment comes as Trump’s incoming administration prepares to introduce a newly created crypto advisory council and appoints key figures such as the chairs of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).
Trump’s tech backers advocate for minimal regulation around artificial intelligence and cryptocurrencies, arguing that excessive rules could stifle innovation. “Sacks will likely have a light touch on regulation, but not without some guardrails,” said Steve Jang, founder of Kindred Ventures, who has co-invested with Sacks in both cryptocurrency and AI startups.
Jang predicted that Sacks would focus on regulating the use of AI in critical applications rather than the development of AI models themselves. This approach addresses a key concern for Silicon Valley investors who opposed California’s unsuccessful SB 1047 bill, which sought to regulate AI model development.
In a move celebrated by the industry, Trump also announced the nomination of prominent Washington lawyer and crypto advocate Paul Atkins to lead the SEC. Trump emphasized that Sacks would “guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness.”
Sacks, an associate of Tesla and SpaceX founder Elon Musk, has emerged as a key advisor to Trump. He is expected to safeguard free speech online and steer the administration away from Big Tech bias and censorship.
Meanwhile, Bitcoin surged to over $100,000 for the first time in its 15-year history on Thursday, highlighting the growing significance of digital currencies in the global economy.
