Ai and Crypto Czar David Sacks talk to President Donald J Trump while signing executive commands at an oval office at the White House 23 January 2025 in Washington, DC.
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As David SacksThe newly appointed AI and Crypto Czar White House and Crypto Czar, cooperates with the legislators on potential regulations for digital property, one of the first things to be focused are Stablecoins.
“They are very dedicated to the transfer of legislation through the home and the Senate this year to ensure that clear regulatory framework that the ecosystem of digital assets should be held in the United States,” ” Sacks said on CNBC “Bell closing over time” Tuesday. “Making legislation through Congress takes time, but I think it’s something we could do in the next six months.”
Earlier that day, Sacks joined the leaders of the Committee on Homes and Senate for the sake of banking and finance for a press conference to discuss their early goals of the crypto policies, with the help of Seca. It was part of a busy day in Washington for regulators and key players on Capitol and Trump’s white house hill to announce the following steps in their digital currency plans.
“I look forward to working with each of you in the creation of a golden age in a digital property,” Sacks said at a press event.
It was applied by Senator Tim Scott (Rs.c.), Chairman of the Senate Banking Committee, Ambassador of French Hill (R-ARK.), Chairman of the House Financial Services Committee and Senator John Boozman (R-ARK.) Senate agriculture.
The leaders said that their first priority is to support the Stablecoin Law, which is introduced by Senator Bill Hagerty (R-Tenn), who proposed new rules for Stablecoins to create a “clear regulatory frame” for their use. Stablecoins are a type of cryptocurrency of which is related to real property, such as US dollar.
Stablecoins have gained popularity, but mostly abroad. MPs are now promoting American issuing of Stablecoin, increasing the dominance of dollars with digital finances. Supporters like bags say such a move could encourage the trillion dollars of a new demand for a dollar and help reduce long -term interest rates.
David Sacks, US President Donald Trump AI and Crypto Czar, listens to that President Trump signs a series of executive orders at the White House oval office on January 23. 2025 in Washington, DC.
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Sacks on Tuesday said CNBC that the highest program for its new working group evaluates “feasibility a Bitcoin Reserve, ” The idea that President Donald Trump suggested during his campaign. Sacks noted that the president asked the Digital Property Working Group to study “whether it was feasible to create either Bitcoin reserve or some kind of digital asset supplies.” He explained that “they have not yet committed to do so, but this is one of the first things” to consider.
On Tuesday, SEC also made a big shift in his approach to regulation of digital assets. Under the new leadership, the agency has announced that they will open their doors to meetings with everyone interested in discussing the crypto, an endeavor to show a clear contrast to former SEC President SEC Gary Genslerwho appeared as an antagonist in the industry.
Commissioner Secant Hester Peirce, who now runs a newly -founded cryptocurrency of the Agency’s working group, has announced a statement called The trip begins. She said the idea was to create more transparent and predictable regulations, eliminating legal ambiguity and unnecessary obstacles.
“The working group works to help create a regulatory frame that achieves important commission regulatory goals – including the protection of investors – and preserves the ability of the industry to offer products and services,” Peirce wrote.
Priorities include clarification that the crippets of assets belong to the laws on value papers, the production of the pathway publishers to obtain a regulatory approval and ensure of compliance measures do not diminish innovation. The group will also examine the crypto borrowing, investment, products traded on the stock exchange and cross -border regulations. Peirce emphasized that although SEC aims to encourage the growth of industry, he will not tolerate fraud.
Seca said it was actively seeking contributions from the public. Companies and individuals can submit written feedback or request meetings with a working group.
The press conference on Tuesday was the first major event of a policy led by Sacks, which was appointed post in December. Although it lacks direct control over regulatory agencies or congress funding, a bag is close to connection with the White House and Elon musk They set it up as a key figure in the administration.
In JuneSacks, previously Trump’s critic, hosted funds raising at his Pacific Heights castle, which raised $ 12 million for the Presidential Campaign of the Republican Leader.
Sacks was in Washington, DC, for inauguration last month and attended crypto ballSurrounded by industry leaders and politics creators. At the event, he stated that “the war on the cryptocurrency was over.” During Trump’s first week in the office, bag stood by the president In the oval office while signing the executive order on digital property.
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