President Donald Trump’s appointed crypto czar will chair a new working group with the aim of making the US a leader in digital assets. In a new episode of the All-In Podcast, US crypto czar David Sacks says that Trump’s crypto executive order establishes a working group comprised of relevant federal agencies to recommend changes […]
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President Donald Trump’s newly-appointed crypto czar says the US will quickly catch up to other countries’ digital asset industries. In a new interview with Fox Business, US Crypto Czar David Sacks says that Trump’s executive order seeking clear crypto guidelines will help the nation catch up to other countries, such as Singapore, that embraced digital […]
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Donald Trump could issue executive orders addressing crypto de-banking and a bank accounting policy when he re-takes the presidency on Jan. 20.
US President-elect Donald Trump’s first day back in the White House on Jan. 20 could see him sign a flurry of executive orders — some of which could impact the crypto industry.
The Washington Post reported on Jan. 13 that Trump is expected to sign executive orders after taking office next week covering crypto de-banking and repealing a bank accounting policy that requires banks holding crypto to list the digital assets as a liability.
“The Trump team has made it very clear that this is a priority,” a person involved with the conversations told the Post.
Republicans currently have a narrow majority in the United States House of Representatives, where the party holds 219 seats.
Recently appointed "AI and crypto czar" David Sacks only has 2 years to push through pro-crypto policies before the 2026 midterm elections in the United States, Joe Doll, the general counsel for NFT marketplace Magic Eden, told Cointelegraph in an interview.
According to Doll, the threat of a gridlocked government could stifle regulations, and the current administration must push through pro-crypto policies while still in control of both chambers of Congress. Doll said:
Trump's numerous appointments of pro-crypto individuals to advisory roles and cabinet positions are widely viewed as a positive development by the crypto community, as the incoming administration promises to pass pro-innovation policies.
Bo Hines will work under Donald Trump’s crypto and AI czar, David Sacks, on the incoming presiden’ts crypto council in a bid to “foster innovation and growth” for digital assets.
Donald Trump has appointed former college football player Bo Hines as the executive director of his incoming administration’s new “Crypto Council.”
In a Dec. 22 post to his social media platform Truth Social, the United States president-elect said Bo Hines — an unsuccessful US House Republican candidate in 2022 — would become the Executive Director of the Presidential Council of Advisers for Digital Assets.
Source: Donald Trump
Operation Choke Point 2.0, a campaign of regulatory pressure against cryptocurrency firms, has sparked a fresh wave of criticism from notable industry figures, including former Silvergate Bank Chief Technology Officer Chris Lane and entrepreneur David Sacks, recently appointed “Crypto Czar” by President-elect Donald Trump. Operation Choke Point 2.0 Under Fire from Industry Voices and Trump’s […]
President-elect Donald Trump announced on Thursday that veteran Silicon Valley venture capitalist David Sacks will serve as his White House AI (artificial intelligence) and Crypto Czar. Trump notes on Truth Social that Sacks will guide administration policy in both areas, which the former president says are “critical to the future of American competitiveness.” “David will […]
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Donald Trump has appointed former PayPal operating chief David Sacks, known for co-hosting the “All In” podcast, as his top AI and crypto adviser.
United States President-elect Donald Trump has named All In podcast co-host and venture capitalist David Sacks as his lead policy adviser on artificial intelligence and crypto.
“David O. Sacks will be the ‘White House A.I. & Crypto Czar,’ Trump wrote in a Dec. 6 post on his social media platform Truth Social — two areas he called “critical to the future of American competitiveness.”
“He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S.,” Trump added.
President-elect Donald Trump has announced via Truth Social the appointment of entrepreneur and investor David O. Sacks as the “White House A.I. & Crypto Czar.” In this newly created role, Sacks will lead policy initiatives in artificial intelligence and cryptocurrency, areas Trump describes as “critical to the future of American competitiveness.” A prominent figure in […]
Palihapitiya did concede the crypto sector has “pushed more boundaries” than other startup sectors, which may have attracted the SEC’s attention.
Regulators in the United States have choked out the cryptocurrency sector to the point of death, according to Bitcoin (BTC) bull and billionaire tech investor Chamath Palihapitiya.
“Crypto is dead in America,” he boldly claimed in an April 22 episode of the All-In podcast.
Palihapitiya’s comment came in response to the news that cryptocurrency exchange Coinbase is now considering a move offshore. He pointed the finger at Gary Gensler, the chair of the U.S. Securities Exchange Commission:
“Crypto is dead in America. I mean now you have Gensler even blaming the banking crisis on crypto — so the United States authorities have firmly pointed their guns at crypto.”
While Palihapitiya said that the U.S. likely views crypto as a threat to its “establishment,” the tech investor did however attribute some fault to the sector:
“In fairness to the regulators, [the crypto sector] did push the boundaries more than any other sector of the startup economy.”
He rounded out his analysis by concluding that the good actors are now “paying the price” for the bad work done by FTX and other firms that have impacted the reputation of the industry.
“The bill has come due for them,” he added.
David Sacks, one of the show’s co-hosts, said the U.S. may be trying to choke out crypto because it may eat into the dominance of the U.S. dollar:
“I think it’s probably not a coincidence that you’re seeing all these concerns about de-dollarization at the same time they're cracking down on crypto.”
But the overall impact will be a net negative one, implied Sacks, who is of the view that pushing crypto companies offshore will be “terrible for American innovation.”
Related: Coinbase CEO on its Wells notice: SEC is like soccer referees in a game of pickleball
Other commentators have described the issue at hand as “Operation Choke Point 2.0” — an alleged orchestrated effort by regulators to discourage banks from holding crypto or providing services to crypto companies.
Palihapitiya was baffled by the notion that Coinbase — a digital asset trading platform that he says had “played by the rules, stood in line” and “tried to do the right things” — was no closer to receiving regulatory clarity than the now-bankrupt FTX.
“How is that even possible,” Palihapitiya asked. Sacks answered that former FTX CEO Sam Bankman-Fried “had skills in gaming the system.”
In March, the SEC issued Coinbase a Wells notice — which typically implies the regulator plans on pursuing legal action against the firm for potential violations of U.S. securities laws.
If a lawsuit is filed, Coinbase CEO Brian Armstrong says that the exchange will be ready to litigate.
Magazine: Unstablecoins: Depegging, bank runs and other risks loom
