Trump AI and “crypto czar” David Sachs spoke about the administration’s crypto policy and future ambitions for digital currencies in an exclusive interview with the Evening Edit.
President Donald Trump’s crypto czar, David Sachs, celebrated the president’s signing of an executive order seeking regulatory clarity for the industry on Thursday, praising his support for the industry while also calling it He blamed the Biden administration for forcing him out.
In an exclusive interview with FOX Business’s “Evening Edit” on Friday, Sachs said Trump’s actions show he is following through on his campaign promise to make the U.S. the “crypto capital” of the world. .
Sachs said President Trump’s Cryptocurrency EO will direct his task force to create a regulatory framework that encourages innovation and cryptocurrencies in the United States, rather than steering the crypto industry to other countries. He said there was.
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“For the last four years, the Biden administration has essentially prosecuted and persecuted crypto companies and actually forced them overseas,” Sachs told host Edward Lawrence. “I’ve heard so many outrageous stories from founders and entrepreneurs that the Biden administration won’t teach them the rules of the road and then they’ll be prosecuted. And what the industry wants more than anything is regulatory clarity. Sada.”
Zenefits CEO David Sacks speaks at the 2016 TechCrunch Disrupt on September 13, 2016 in San Francisco, California, USA. (Reuters/Beck Dieffenbach/Reuters)
“They’re telling us what the rules are and we’re going to abide by them,” Sachs said. And the Biden administration will never do that. And because of that, all the innovation was basically moved overseas, and America was losing this future technology. ”
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President Trump’s order establishes the Presidential Task Force on Digital Asset Markets, which will develop a federal regulatory framework for digital assets, including stablecoins, and evaluate the creation of a strategic national digital asset reserve. It will be chaired by the White House’s AI and crypto czar and will include the Secretary of the Treasury, the Chairman of the Securities and Exchange Commission (SEC), and heads of other relevant departments and agencies.
