Key Points:

• The Trump Crypto Czar is known for advocating against government regulations, aligning with industry views.
• Sacks’ appointment is seen as beneficial for AI and crypto industries, offering regulatory clarity and protection from overreach.

David Sacks, a surprising choice by President-elect Donald Trump to lead policy on both AI and cryptocurrency, brings limited experience in the two industries but a tech-savvy mindset and staunch anti-regulation stance.

Read more: Donald Trump Administration Will Increase CFTC Power Over Crypto Industry

Trump Crypto Czar Appointed to Lead AI and Crypto Policy

David Sacks is a well-known venture capitalist and a key fundraiser for Trump, but he is not particularly well-known in Silicon Valley as a major player in either AI or crypto. He’s made a smattering of investments in both areas, including backing Elon Musk’s xAI and crypto companies like BitGo and Bitwise, but his track record is not long.

However, the value of Sacks’ appointment lies in his firm belief in minimal government interference. As a member of the “PayPal Mafia” and founder of Craft Ventures, the Trump Crypto Czar has been aggressively attacking governments for regulations that tie private companies up in knots.

According to Bloomberg, this is in line with beliefs held by many in the startup world, especially those in AI and crypto, where executives are concerned that over-regulation could choke a nascent industry.

Tech Startups Welcome Sacks into Office for Much-Needed Regulatory Clarity

Advocates believe this appointment will bolster both industries in the years to come. With the clampdown on crypto companies by the U.S. government and fears of possible encroachment by governance regarding AI, many find the Trump Crypto Czar to be someone who should be able to make things clearer and protect the interests of start-ups.

The Trump administration, which plans more light regulations on those technologies, contrasts that in regards to the Biden 2023 AI executive order, which demands safety tests for the newest models.