David Sacks named AI and crypto czar by President-elect Donald Trump

President Trump appointed David Sacks as his White House A.I. & Crypto Czar to work on creating a legal framework for the crypto industry in the U.S. Sacks, a former PayPal COO, will work alongside other officials to reshape U.S. policy on digital currency. Tech backers supporting minimal regulation of AI and cryptocurrencies are lauding this move. Sacks is expected to focus on regulating the use of AI in critical applications rather than developing AI models themselves. Trump also nominated Paul Atkins, a crypto advocate, to lead the SEC, further solidifying the administration’s support for digital assets. Trump’s embrace of cryptocurrencies during his campaign promises to make the U.S. the “crypto capital of the planet.” The appointment of Sacks as the White House A.I. & Crypto Czar has been met with positivity from industry experts who appreciate his technical competence in the crypto space. Sacks, a member of the “PayPal Mafia,” has a background in leading successful tech companies like PayPal and Zenefits, as well as being an early evangelist of cryptocurrencies. Additionally, he will lead a White House advisory council on science and technology. Overall, Sacks’ appointment signals a move towards creating clearer regulations for the crypto industry in the U.S. under the Trump administration.

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