Crypto Tsar David Sacks: TRUMP coin is a collectible, not worried about potential conflicts of interest

ChainCatcher news, the newly appointed cryptocurrency special advisor David Sacks elaborated on the three major focuses of the digital asset working group in an interview with Fox Business News: establishing market structure and clarifying digital asset classification, expanding the dominance of the dollar through stablecoins, and evaluating national digital asset reserve plans.

Regarding potential conflicts of interest that TRUMP coin might trigger, Sacks stated that this token is similar to collectibles like baseball cards and there's no need for concern. He emphasized his opposition to CBDCs, supported the development of stablecoins, and pointed out that expanding the dominance of digitized dollars could potentially create a demand for trillions of dollars in U.S. Treasury bonds which would help support debt and lower long-term interest rates. As for the digital asset reserve plan, Sacks said it is still under evaluation stage without a final decision made yet.