President-elect Donald Trump has appointed former PayPal COO David Sacks as his “White House A.I. & Crypto Czar” in an effort to overhaul U.S. policy. Trump stated that Sacks will work on creating a legal framework for the crypto industry to thrive in the U.S., along with other officials who are expected to reshape policy on digital currency. Sacks has been praised by tech entrepreneurs and investors for his strong move in this role. He is known for having a hands-on approach to crypto and a deep understanding of the industry.
Trump’s decision to appoint Sacks, along with other officials such as the chairs of the SEC and CFTC, signals a move towards minimal regulation around artificial intelligence and cryptocurrencies. Trump aims to position the U.S. as the “crypto capital of the planet” and has embraced digital assets during his campaign.
Sacks, a member of the “PayPal Mafia,” has a background in venture capital and has been a proponent of cryptocurrencies for years. He is expected to prioritize regulating the use of AI in critical applications rather than focusing on regulating the development of AI models. The appointment of Sacks has been seen as bullish news for the industry, with experts praising his technical competence and experience in the field. Trump also announced that Sacks will lead a White House advisory council on science and technology.
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