Crypto and AI “Czar” Appointed by Donald Trump

Timothy St. John•Friday, December 6, 2024•2 min read

The former chief operating officer of PayPal has been chosen by President-elect Donald Trump to head a government division overseeing cryptocurrency and artificial intelligence.

Trump has set a crypto leader in a key position. — Trump assigns crypto and AI czar.

As Trump’s swearing in day approaches, he is picking people to head up different aspects of the administration he will be putting together. One of his newest picks is the former COO of PayPal, David Sacks, and he has chosen him to take the position of “AI and crypto czar” for the White House.

Trump spoke about the appointment on social media platform Truth Social. He said that the crypto industry will “thrive in the US” with Sacks working on the legal framework that will enable greater clarity by the government concerning this industry.

New policies on digital currency are expected to come down from this administration and create major change in US policy. Trump is also changing up the chairs for the Securities and Exchange Commission as well as the Commodity Futures Trading Commission. With these stalwarts gone, new policies are expected concerning digital currency. Trump will also be putting together a cryptocurrency advisory council to help counsel him concerning decisions related to crypto.

The Future of Crypto under Donald Trump

Cryptocurrency has been a hot topic for Trump in recent months as he made it a major part of his campaign, and now it looks like he is moving forward to make good on his promises concerning cryptocurrency. To replace the long-serving politicians in key positions with fresh faces that come from the tech industry- that bodes well for cryptocurrency and AI industries. The US government has been notoriously conservative and regressive when it comes to handling issues of artificial intelligence, social media, and cryptocurrency. These industries could benefit under new oversight and new, more forward-thinking regulations.

The hope of the crypto industry and of those in the tech fields who have backed Trump on issues of cryptocurrency and AI is that they will see less regulation and greater freedom in these fields moving forward. They expect Trump and his administration to take a very sensible approach to crypto and to allow for a lot of freedom for growth and commerce in these areas. It looks like the stage is set for exactly that, thanks in part to the kinds of people Trump is putting into positions of oversight, like David Sacks.

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ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.