White House Crypto Tsar David David Sacks said Donald Trump’s ambition to build national reserves is still examining the feasibility of national reserves.
“This is the first thing we will see as part of the government’s internal working group,” Sachs said in a press conference in Washington on Tuesday. “We are still waiting for some of the cabinet members on the working group to be confirmed, so We are still in the early stages. But that’s the first thing we’re going to see.”
Asked how the cryptocurrency industry will be involved in the White House efforts, Sachs said: “We will announce this at some point, which will be a mandate to do some kind of publicity with the industry.”
Republican lawmakers joined Saxophone in a press conference, announcing that Congress is forming a two-color working group to develop cryptocurrency regulations.
Sacks is a Silicon Valley venture capitalist who was Trump the first ever White House cryptocurrency and AI czar, a role that allowed him to shape the administration to two fast-growing developments the department plays an important role in the policy. Trump vowed to strengthen the AI and crypto industries by relaxing regulatory restrictions and strengthening investment.
The president signed an executive lawsuit in his first week that the action set up a working group to advise the White House on digital asset policy and include the Treasury Department, the Justice Department, the Securities and Exchange Commission, and commodity futures trading Key federal agencies are involved. Committee. The group’s mission is to submit a report within about six months, which will recommend the development of a regulatory framework and legislative proposals, such as the creation of digital asset inventory.
Sax meets with Senate Banking Committee Director Tim Scott and Senate Agriculture Committee Director John Boozman meets Republican Tim Scott; House Financial Services Committee chairs the French Hill and House Agriculture Committee Director Glenn Thompson and represent French Hill.
While Trump has taken good promises related to digital assets, his administration attacked industry-friendly figures and pardoned Ross Ulbricht, founder of the infamous Silk Road website. ) – He will need the help of Republican-controlled Congress to achieve some of his policies.
Trump’s focus marks a shift in a president who was previously skeptical of digital assets, but embraced the field during the 2024 election as crypto executives and enthusiasts announced their growing influence and financial position, Election candidates in favor of the industry.
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