President-elect Donald Trump has named David Sachs, a former PayPal executive and influential podcast host, as his senior policy advisor for artificial intelligence (AI) and cryptocurrencies.
In a Published on December 6, 2024 Trump said Sachs would serve as… “White House Artificial Intelligence and Cryptocurrency,” A The role that is considered crucial To enhance American competitiveness in these pivotal technology sectors.
explores: The 18 best new cryptocurrencies to invest in 2024
Bags play a major role in creating the legal framework
Trump said Sachs will be instrumental in crafting a legal framework that provides much-needed clarity and support for the cryptocurrency industry to flourish within the United States.
“HWe will work to establish a legal framework so that the cryptocurrency industry has the clarity it has been demanding to, It can flourish in the United States,” Trump said this, stressing the possibility of regulatory developments that could greatly benefit the sector.
In addition, bags He was assigned While protecting online expression and directing efforts to confront bias and censorship by Big Tech companies. Trump also noted that Sachs will chair the President’s Council of Advisors on Science and Technology.
Sachs, a prominent figure in the technology industry, co-founded Yammer, which was acquired by Microsoft for $1.2 billion in 2012, and currently co-hosts Yammer. “All in” podcast while running Craft Ventures, the venture capital firm he helped found.
Reflects the designation Trump Commitment to incorporating leaders from the business world who supported his campaign into his administration.
bags, Who was he? An outspoken Trump supporter organized a fundraiser earlier this year that raised $12 million for Trump campaign.
Donald Trump Names David Sachs “White House AI and Cryptocurrency Czar”
It’s time to build. pic.twitter.com/5VnWkMYFtD
-Shaun Maguire (@shaunmmaguire) December 6, 2024
The president-elect has embraced the cryptocurrency sector as a key component of his campaign, promising to transform the United States into a global cryptocurrency hub. this It has received significant financial support from industry leaders.
Trump Recent appointments, including of Sachs and pro-crypto figures like Paul Atkins to the Securities and Exchange Commission, indicate a potential shift in policy direction in favor of the cryptocurrency industry.
explores: The Securities and Exchange Commission is suing cryptocurrency mining company Touzi Capital for $115 million in fraud
Trump selects crypto ally Paul Atkins as next head of the Securities and Exchange Commission
Earlier this week, reports claimed that Trump He chose Paul Atkinsa cryptocurrency advocate and former commissioner of the Securities and Exchange Commission, As his choice To lead the Securities and Exchange Commission (SEC).
Currently, Atkins is the CEO of Patomak Global Partners, a consulting firm specializing in strategy and risk management.
Atkins served as SEC commissioner from 2002 to 2008, and his background aligns closely with the cryptocurrency industry.
Under the Biden administration, outgoing SEC Chairman Gary Gensler has taken an aggressive approach to the cryptocurrency industry, initiating enforcement actions against several high-profile companies and projects.
He criticized Trump Gensler His policies, and he promised during his election campaign to dismiss him “On the first day.” However, Gensler pre-empted the move by announcing his resignation effective January.
As reported by the Securities and Exchange Commission He has taken Tougher stance against cryptocurrency companies in 2024. More specifically, the regulator It imposed approximately $4.7 billion in enforcement actions against cryptocurrency companies, an increase of 3,018% from 2023.
explores: 17 Best Cryptocurrencies to Buy Now in 2024
The post Trump Hires Former PayPal President As Cryptocurrency Policy Advisor appeared first on 99Bitcoins.