• New role will help reshape U.S. policy on digital currency
    Early evangelist for cryptocurrency Move comes after bitcoin soared above $100,000 for first time

Dec 5 (Reuters) - U.S. President-elect Donald Trump on Thursday said he was appointing former PayPal Chief Operating Officer David Sacks as his “White House A.I. & Crypto Czar,” another step towards overhauling U.S. policy.

“He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S.,” Trump said in a post on his social-media site Truth Social, without saying whether “czar” was an official title.

The crypto czar and other officials in Trump’s incoming administration such as the chairs of the Securities and Exchange Commission and Commodity Futures Trading Commission are expected to reshape U.S. policy on digital currency along with a newly created crypto advisory council.

Trump’s tech backers generally want to see minimal regulation around artificial intelligence and cryptocurrencies such as bitcoin, saying Washington would throttle growing innovative sectors with excessive rules.

  • the_artic_one@programming.devEnglish
    142·
    16 days ago

    Blockchain is such fucking cursed tech. I’m expecting a horrible plot twist where the US Government adopts Bitcoin (ruining the few things that were ever somewhat attractive about Bitcoin) and then it turns out Satoshi sold their wallet to Elon Musk years ago.

    • pdxfed@lemmy.world
      3·
      16 days ago

      Yep, been thinking about how when everyone on your team is in on it, you just annoint an official crypto currency of the US government and of course you were in long before, then you just own the entire world and your currency is above most governments reach.