Trump's Crypto and AI Czar: David Sacks to Chart a Legal Framework
Thursday, Dec 5, 2024 9:24 pm ET
GAP --
In a significant move signaling a shift in the U.S.'s stance on emerging technologies, President-elect Donald Trump has appointed venture capitalist David Sacks as the White House's AI and crypto czar. This appointment underscores Trump's intent to boost two rapidly developing industries and aligns with his campaign promises to promote crypto-friendly policies and regulatory clarity.
David Sacks, a prominent Silicon Valley figure and co-founder of Craft Ventures LLC, brings a wealth of experience and expertise to the role. As a venture capitalist, Sacks has invested in numerous tech startups and has a proven track record in tech industry fundraising. His appointment is expected to establish direct communication channels between the White House and federal regulators, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

One of Sacks' key priorities will be to work on a legal framework for the crypto industry, providing a direct line to the White House and serving as a liaison between Trump, Congress, and federal agencies interfacing with digital assets. This role is expected to help spearhead crypto industry deregulation, addressing the industry's demand for clearer guidelines and enabling it to thrive in the U.S. market.
Trump's shift in stance on crypto is notable, given his previous skepticism during his first term. In 2024, he described Bitcoin as "highly volatile and based on thin air." However, his campaign later embraced crypto-friendly policies, promising regulatory clarity. Sacks' appointment signals a commitment to delivering on these campaign promises and fostering a supportive environment for crypto innovation in the U.S.
David Sacks has been instrumental in bridging the gap between tech leaders and the Trump campaign, hosting fundraising events and maintaining close ties with Vice President-elect JD Vance. As AI and crypto czar, Sacks will also lead the Presidential Council of Advisors for Science and Technology, positioning him to help Trump put his imprint on an emerging technology with immense potential.
Sacks is poised to be at the front lines in determining how the federal government both adopts AI and regulates its use. As AI becomes more mainstream and its adoption by consumers poses a wide array of benefits and risks, Sacks' role will be crucial in striking a balance between embracing AI's potential and mitigating its harms.
Trump's appointment of David Sacks as AI and crypto czar signals a commitment to promoting innovation in these rapidly developing industries. By providing cryptocurrency advocates a direct line to the White House and working on a legal framework for the crypto industry, Sacks is well-positioned to help the U.S. lead in AI and crypto technology.