David Sacks, the New “Cryptocurrency Czar” of the USA, Made a Statement – Here are All Details

President Trump’s newly appointed “crypto chief” David Sacks discussed the administration’s ambitious plans to make the United States a global leader in crypto in an exclusive interview with The Evening Edit.

Sacks touted key policy changes under Trump's leadership, including regulatory clarity, a commitment to fostering innovation and ensuring the U.S. remains competitive in the rapidly evolving digital asset landscape.

During the interview, Sacks noted that the administration has created an internal working group to develop a comprehensive regulatory framework for cryptocurrencies. President Trump, who has positioned himself as the “first crypto president,” recently signed an executive order to launch these efforts. “We want to make America the crypto capital of the world,” Sacks said, adding that the administration is focused on keeping innovation in the country.

Trump’s executive order represents a sharp departure from the policies of the Biden administration, which Sacks has criticized for “aggressive enforcement actions” that have driven crypto businesses offshore. “What the industry wants more than anything is regulatory clarity. They’re saying, ‘Just tell us the rules and we’ll follow them,’” Sacks explained.

According to the interview, the newly formed working group will focus on several critical areas:

• Market Structure: Creating clear definitions for securities, commodities, digital assets and collectibles to ensure a stable regulatory environment.
• Stablecoins: Encouraging the development of digital dollars to extend the international dominance of the US dollar.
• National Digital Asset Stockpile: Considering the establishment of a reserve for digital assets, although a final decision has not yet been made.

Sacks specifically highlighted the importance of stablecoins, which he believes could “create trillions of dollars of demand for U.S. Treasuries” as the dollar grows its global influence.

The executive order also prohibits federal agencies from developing a central bank digital currency (CBDC), which Sacks described as a “real threat to freedom and liberty.” Sacks warned that CBDC could lead to invasive financial surveillance and control, calling it an “Orwellian path” that the U.S. should avoid. The administration instead aims to encourage private sector innovation in stablecoins.

Despite the US lagging behind countries like Singapore and some European countries in crypto innovation, Sacks expressed confidence that the executive order would allow the country to quickly catch up. “The US is a leader in almost every other technology category. Crypto will be no different,” he said.

*This is not investment advice.