Newly appointed Crypto and AI Czar David Sacks held a press conference today as part of the week one objectives of President Donald Trump. Sacks took to the podium and lambasted the last four years of persecution and prosecution under the Biden Administration, which included crypto firms being debanked. Sacks said the number one need of digital asset innovators is regulatory clarity.
“We want the value creation to happen in the United States,” said Sacks, noting that past policy was driving innovation offshore.
Sacks told the audience it is easier to supervise a firm based in the US instead of outside the country (IE FTX), and their goal is to encourage good actors while protecting consumers from the bad ones. Sacks said they want to ensure American dominance in digital assets, leading to a golden age of crypto.
Several digital asset insiders shared comments on the press event.
“As my fellow South Carolinian Senator Tim Scott said, today’s conference was yet more of what we’ve seen over the last few weeks…promises made, promises delivered,” said Chrissy Hill is Chief Legal Officer and interim COO at Parity Technologies. “These are concrete steps that the Trump administration is taking in the form of key appointments, executive orders and encouraging bicameral cooperation on the essential topics of innovation and digital assets. The U.S. is setting itself on a course to secure a digital future that everyone can adopt and appreciate.”
Research Lead at CoinMarketCap Alice Liu said the team under Trump is taking a far friendlier approach to crypto regulation and wants to bring digital asset development back to the US.
“Although there is disappointment a BTC Reserve was not formally announced, it makes sense for stablecoins to be the first priority from a regulatory perspective. Policy aimed at stimulating the growth in USD stablecoins will drive more global adoption of the U.S. dollar – a key side effect of which is increased demand for short-dated U.S. Treasuries, which are often used in backing USD-pegged stablecoins. But if stablecoin regulation comes first, BTC reserve status might take longer than people had hoped, potentially dragging out the timeline for the next bull market. This lack of action plan has likely contributed to some of the market’s reaction, with Bitcoin seeing increased volatility and total liquidation of over $ 450 million in the past 24 hours,” said Liu.
Anton Umnov, co-founder and CEO of Helika, a data analytics, marketing, and game management platform, said that Sacks’ focus on regulatory clarity highlights how AI and Web3 will transform gaming economies.
“Shifts toward more practical U.S. regulations are reducing legal costs, encouraging onshore development, and setting the stage for global alignment, to embark on the so-called “golden age” of technology and digital assets in the U.S., further driving Web3 gaming’s growth and adoption.”
Digital asset clarity should emerge rapidly, with the Trump administration at the helm and Congress controlled by the Republicans. This is good for crypto innovation, but it also highlights the profound errors of the last four years, which reveal an administration on the wrong side of history.