Trump appoints former PayPal exec David Sacks as AI and crypto czar
The Hindu
Trump has appointed former PayPal COO David Sacks as the new ‘White House AI and crypto czar.’
U.S. President-elect Donald Trump on Thursday said he was appointing former PayPal Chief Operating Officer David Sacks as his "White House A.I. & Crypto Czar," another step towards overhauling U.S. policy.
"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 said in a post on his social-media site Truth Social, without saying whether "czar" was an official title.
The crypto czar and other officials in Trump's incoming administration such as the chairs of the Securities and Exchange Commission and Commodity Futures Trading Commission are expected to reshape U.S. policy on digital currency along with a newly created crypto advisory council.
Trump's tech backers generally want to see minimal regulation around artificial intelligence and cryptocurrencies such as bitcoin, saying Washington would throttle growing innovative sectors with excessive rules.
Trump announced on Wednesday that he was nominating prominent Washington lawyer and crypto advocate Paul Atkins to lead the SEC, in a move celebrated by the industry.
Trump - who once labeled crypto a scam - embraced digital assets during his campaign, promising to make the United States the "crypto capital of the planet" and to accumulate a national stockpile of bitcoin.
Bitcoin broke $100,000 for the first time on Wednesday night, a milestone hailed even by skeptics as a coming-of-age for digital assets as investors bet on a friendly U.S. administration to cement the place of cryptocurrencies in financial markets.
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