Trump’s crypto team takes shape but questions remain over who will drive policy

WASHINGTON: US President-elect Donald Trump’s crypto policy is taking shape with the announcement of a White House crypto czar and a new securities watchdog, but questions remain over who will drive policy and whether too many cooks could slow down changes.
Trump on Thursday appeared to make good on his campaign pledge to be a ‘crypto president’, announcing he would make former top PayPal executive and crypto evangelist David Sacks “White House AI & Crypto Czar”. A day earlier, Trump said he would nominate pro-crypto Washington attorney Paul Atkins to head the Securities and Exchange Commission.
While crypto executives cheered the news, saying the pair would end the Biden administration’s crypto crackdown and promote innovation, some Washington analysts said the creation of a crypto czar, a new role, sowed ambiguity over who would drive crypto policy and flagged the potential for policy clashes.
“One big question is whether the policy will be driven by Sacks himself. A czar appointed by Trump is going to want to see changes fairly quickly, but the SEC has processes and you can’t just snap your fingers at the SEC and have new rules,” Ian Katz, managing director of Capital Alpha Partners, said in an email to Reuters. “Personalities will be important,” he added.
A Silicon Valley venture capitalist and friend of Trump billionaire backer Elon Musk, Sacks was an early bitcoin investor. In a 2017 CNBC interview, he said cryptocurrencies were revolutionising the internet, but he acknowledged there were also scammers in the sector.
He does not appear to have any experience writing or leading policy, according to a Reuters review of his background.
Atkins, meanwhile, is a former SEC official and respected veteran of Washington policy circles who has said he supports crypto innovation as way to boost financial services competition, and has helped crypto companies in their dealings with regulators via his consultancy Patomak Global Partners.
“Atkins is kind of a known quantity,” said Lene Powell, senior legal analyst at financial consultancy Wolters Kluwer. Sacks is from “a different sphere”.
Both have called for regulators to be more accommodating of crypto companies, but neither appear to have taken a position on whether and under what circumstances crypto tokens should be considered securities, commodities or utilities -- a core issue that will ultimately decide how the industry is regulated.
“I think we’ll see more constructive regulation. Obviously, that includes some clarification around what is (a) security or not,” said Chen Arad, co-founder of Solidus Labs, a crypto compliance company.
Atkins and Sacks did not immediately respond to requests for comment.
Bitcoin, the world’s largest cryptocurrency, surged past the $100,000 milestone for the first time after Trump announced Atkins as his pick to lead the SEC, buoyed by hopes that the new administration would usher in softer crypto policies.
Under President Joe Biden, the SEC has sued dozens of crypto companies, alleging they broke securities laws, while bank regulators discouraged lenders from dabbling in crypto and Congress failed to pass legislation that would help promote mainstream crypto adoption.
The crypto industry is pushing for an ambitious raft of policies that would promote adoption of digital assets, including the creation of a crypto regulatory framework which would address when tokens can be classified as securities or commodities.
Trump said in a Thursday post on his Truth Social platform that Sacks would “guide” crypto policy and “work on a legal framework so the Crypto industry has ... clarity,” leaving it unclear whether Sacks would lead the incoming administration’s crypto policy.
It was also unclear whether Sacks will lead Trump’s crypto advisory council, which is also expected to play a key role in shaping crypto policy. Reuters previously reported the crypto czar was expected to lead that body and coordinate policy among the various regulatory agencies.
That coordination will be crucial, since a crypto legal framework would need extensive input from the SEC and the Commodity Futures Trading Commission, whose new chair has yet to be announced, and may also require congressional approval, said lawyers.
Regulations on less contentious non-crypto issues such as proprietary bank trading and capital have been snarled up for years by inter-agency squabbles, they noted.
“It definitely would be a lot of cooks,” Powell said.
In an email on Friday, a Trump transition spokesperson reiterated the President-elect’s Thursday announcement in which he said Sacks would guide crypto policy, and did not answer Reuters questions seeking more details on how the role would work.
Some consumer protection advocates have expressed concern that the Trump administration’s crypto agenda might create gaps that would leave investors at risk, a fear the industry has largely dismissed.
“I don’t think there will be under-regulation,” said Anthony Scaramucci, the founder of asset manager SkyBridge, who briefly served in Trump’s first administration. “I don’t think it will create fraud, but I think it will help the United States maintain what it should be, which is our mantle of financial services leadership.”
#DonaldTrump #DavidSacks #USA #cryptomarket #CryptoNews

🚀 The crypto world is buzzing! David Sacks, tech visionary and venture capitalist, has been appointed by Donald Trump as the White House's first-ever AI and Crypto Czar. This monumental step marks a turning point for both industries, signaling a brighter, innovation-friendly future.
🔑 Why It Matters:
Sacks is a member of the famed "PayPal Mafia" and a major player in Silicon Valley, with investments in Uber, Airbnb, and more.
He’s known for advocating looser regulations and fostering innovation in digital assets and artificial intelligence.
💡 What’s Next?
Sacks will craft a regulatory framework to support crypto businesses and AI development, ensuring the U.S. leads in these rapidly evolving fields.
The industry is optimistic, expecting clearer rules and more opportunities for growth.
📈 Market Impact:
Bitcoin has surged past $100,000 following the announcement, reflecting investor confidence in the administration’s pro-tech policies.
🌐 What Critics Say:
Concerns about potential conflicts of interest have surfaced, as Sacks plans to continue his venture capital activities. However, his supporters argue that his industry expertise is exactly what’s needed.
🔥 What This Means for You:
This is a pivotal moment for crypto and AI enthusiasts. With leaders like Sacks at the helm, we’re on the brink of a new era of technological innovation and global leadership.
💬 Your Turn: What do you think about this move? Will it truly revolutionize the crypto and AI space? Let’s discuss!
#CryptoNews #AI #DavidSacks #Bitcoin #Innovation #CryptoNews #AI #DavidSacks #Bitcoin #Innovation #TrumpAdministration $XRP $DOGE $BTC

Brad Garlinghouse, CEO of Ripple, is making waves in the crypto community with his enthusiastic response to two major appointments shaping the future of cryptocurrency and artificial intelligence in the U.S.

David Sacks: The New ‘Crypto Czar’
The White House has appointed David Sacks, a venture capitalist and former COO of PayPal, as the nation’s new “AI and crypto czar.” Sacks brings an impressive resume, including ties to Elon Musk, having played a pivotal role in Musk’s $44 billion Twitter acquisition.
🔹 Key Responsibilities:
Overseeing AI and cryptocurrency policy.
Leading the Council of Advisors for Science and Technology.
Supporting pro-innovation initiatives in crypto and AI development.
🔹 Elon Musk and Sacks Collaboration:
With Musk heading the Department of Government Efficiency (D.O.G.E) and Sacks now at the helm of crypto and AI policy, industry experts anticipate a dynamic collaboration. Their shared vision for innovation could redefine tech policy in the U.S.

Ripple CEO’s Reaction
Garlinghouse congratulated Sacks, calling him a “tech-savvy leader” who understands the intricacies of technology. He expressed optimism about the White House’s pro-innovation approach, emphasizing the significance of this appointment for the crypto space.
Quote:
“David Sacks is the perfect choice to lead the U.S. crypto and AI policy. Dream team!”

New SEC Chairman: A Win for Crypto
Another milestone for the crypto industry is the appointment of Paul Atkins as the new chairman of the U.S. Securities and Exchange Commission (SEC). Atkins, known for his balanced approach to regulation, replaces Gary Gensler, whose tenure was marked by an anti-crypto stance.
🔹 Garlinghouse’s Response:
Calling it an “outstanding choice,” Garlinghouse expressed confidence in Atkins’ ability to foster innovation while maintaining fair oversight.

The Bigger Picture
These appointments signal a potential shift in U.S. policy toward a more innovation-friendly stance on cryptocurrency and AI. With industry veterans like Sacks and Atkins at the helm, the stage is set for collaboration between gyn tech leaders and policymakers to drive growth and adoption in the crypto sector.
What’s Next?
Pro-crypto regulations could pave the way for institutional adoption.
AI and crypto integration may accelerate under supportive policies.
Ripple and other blockchain companies are likely to benefit from this favorable environment.

💬 What’s Your Take?
Are these appointments the turning point for U.S. crypto policy? Join the discussion and share your thoughts below!
#Ripple #DavidSacks #CryptoRegulation #BlockchainInnovation #Share1BNBDaily

In a move signaling the importance of emerging technologies, President-elect Donald Trump has appointed David Sacks as the White House czar for artificial intelligence and cryptocurrency. Sacks, a seasoned entrepreneur and investor, brings a wealth of experience from his tenure in the tech industry and close ties to influential figures like Elon Musk and Peter Thiel.

A Proven Tech Visionary
David Sacks served as the Chief Operating Officer at PayPal, working alongside Musk and Thiel to build one of the world’s most recognized fintech companies. In 2017, Sacks co-founded Craft Ventures, a venture capital firm that has invested in high-profile companies like SpaceX, Palantir, Uber, and Airbnb.
Sacks’ extensive investment portfolio and deep connections in the tech sector underscore his capability to navigate the challenges and opportunities in AI and cryptocurrency, two of the most transformative technologies of our time.

A Trump Ally with a Vision
A vocal supporter of Trump, Sacks hosted a fundraising event during the campaign and penned a detailed essay explaining his decision to back the president-elect. His essay, shared on X, tackled critical issues such as the economy, border security, NATO, the war in Ukraine, and political accountability.

In his announcement on Truth Social, Trump emphasized the significance of Sacks’ role:

> “David will focus on making America the clear global leader in both areas. He will safeguard Free Speech online and steer us away from Big Tech bias and censorship.”

Shaping the Future of AI and Cryptocurrency
Sacks' appointment reflects Trump’s broader agenda to position the United States as a leader in artificial intelligence and blockchain innovation. By addressing regulatory clarity and fostering growth in these industries, Sacks aims to create an ecosystem where technology thrives while safeguarding democratic values.

Conclusion
David Sacks’ appointment as AI and Crypto Czar signals a bold step toward advancing technology leadership in the US. With his track record of success and alignment with Trump’s vision, Sacks is poised to play a pivotal role in shaping the nation’s technological future.
#TrumpCrypto #DavidSacks #BlockchainLeadership #TechPolicy #BinanceFeed

In a groundbreaking decision, former President Donald Trump has named David Sacks as the new head of AI and cryptocurrency initiatives for the White House. This bold move highlights Trump’s increasing focus on emerging technologies and their impact on the global economy.
Who is David Sacks?
David Sacks is a prominent tech entrepreneur, investor, and advocate for innovation in AI and blockchain. As a founding partner of Multicoin Capital, a leading cryptocurrency investment firm, and a vocal proponent of artificial intelligence, Sacks is uniquely positioned to reshape policy in these sectors.
His appointment is expected to drive:
1. Pro-Business Policies: Encouraging innovation in AI and crypto.
2. Market Confidence: Sacks’ leadership could spark institutional interest in blockchain projects.
3. Stricter Regulation or Guidance: Striking a balance between innovation and compliance.
Why This Matters
This decision underscores the growing importance of AI and crypto in shaping the future economy. Sacks is expected to focus on:
Expanding U.S. dominance in artificial intelligence development.
Crafting policies that support blockchain adoption while addressing regulatory concerns.
Market Impact: Follow the Money
Sacks’ close ties to Multicoin Capital make their portfolio a must-watch for early market movers. With Sacks now in a high-profile position, projects within Multicoin Capital’s investments could see a surge in interest and activity.
Potential Movers in Multicoin Capital’s Portfolio:
Look for tokens with strong fundamentals and scalability solutions.
Watch for projects involved in AI and blockchain integrations.
Conclusion
David Sacks’ appointment signals a new era for U.S. leadership in AI and crypto. As policies evolve under his guidance, the market is poised for increased activity and opportunities.
Stay informed, and don’t miss potential shifts in the AI and crypto landscape.
#TrumpAdministration #DavidSacks #CryptoPolicy #MarketUpdates #Share1BNBDaily