David Sacks, President Trump's newly appointed cryptocurrency and AI czar, announced today that a "Golden Age" for digital assets is approaching. Speaking at a Capitol Hill press conference, Sacks outlined the administration's ambitious plans to reshape America's cryptocurrency landscape.
The announcement comes as part of a broader push to position the United States at the forefront of digital finance innovation. Following a recent executive order granting Sacks oversight of crypto policies, the administration is moving to establish clear regulatory guidelines for digital currencies and their issuers.
A new working group comprising financial regulators will develop federal frameworks for digital assets, including stablecoins. This initiative aligns with bipartisan efforts in Congress, where both chambers are collaborating on new cryptocurrency legislation.
"We want regulations that encourage business growth while keeping innovation within our borders," Sacks emphasized during his first major public address since taking the role.
The announcement follows recent developments at the Federal Deposit Insurance Corporation (FDIC), where Acting Chairman Travis Hill revealed plans to overhaul digital asset supervision. Hill acknowledged past regulatory resistance to crypto-related banking activities and pledged to create new pathways for institutions to engage with blockchain technology while maintaining safety standards.
The House Financial Services Committee plans to explore these developments further in an upcoming hearing titled "A Golden Age of Digital Assets: Charting a Path Forward."
This renewed focus on cryptocurrency regulation marks a shift in approach, as the administration aims to attract investment while maintaining U.S. leadership in the evolving digital economy. The initiatives seek to balance innovation with investor protection, setting the stage for what Sacks describes as an unprecedented era in digital finance.