US's New 'Crypto Chief' David Sacks Makes Statement! Here are all the 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 the cryptocurrency field in an exclusive interview with The Evening Edit.

Under Trump's leadership, Sacks highlighted key policy changes, including regulatory clarity, promoting innovation, and ensuring US competitiveness in the rapidly evolving digital asset environment.

During the interview, Sacks mentioned that the administration has formed an internal working group to develop a comprehensive regulatory framework for cryptocurrencies. President Trump, positioning himself as the "first crypto president," recently signed an executive order to kick off these efforts. Sacks, stating "We want to make America the crypto capital of the world," said that the administration is focused on keeping innovation in the country.

Trump's executive order represents a sharp distinction from the Biden administration's policies, which Sacks criticized for their 'aggressive sanction actions' that drive crypto businesses to offshore countries. Sacks explains, 'What the industry wants most of all is regulatory clarity. They say, 'Just tell us the rules, and we'll comply with them.'

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 provide a stable regulatory environment.
• Stablecoins: Encouraging the development of digital dollars to expand the international dominance of the US dollar.
• National Digital Asset Reserve: Although a final decision has not yet been made, the evaluation of creating a reserve for digital assets.

Sacks emphasized the importance of stablecoins, believing that they could create trillions of dollars in demand for US treasuries, while increasing the global influence of the dollar.

The executive order also prohibits federal agencies from developing a central bank digital currency (CBDC) that Sacks identifies as a 'real threat to freedom and liberty'. Sacks warns that a CBDC could lead to invasive financial surveillance and control, describing it as an 'Orwellian path' that the US should avoid. Instead, the administration aims to promote private sector innovation in stablecoins.

Although the US lags behind countries like Singapore and some European countries in crypto innovation, Sacks expressed his belief that regulatory measures will enable the country to catch up quickly. He said, 'The US is a leader in almost all technology categories. Crypto will be no different.'