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Donald Trump, the President-elect, appoints David Sacks as the AI and cryptocurrency czar.


President-elect Donald Trump has appointed former PayPal COO David Sacks as his “White House A.I. & Crypto Czar” to work on a legal framework for the crypto industry in the U.S. Sacks’ appointment is part of a broader initiative to reshape U.S. policy on digital currency and artificial intelligence. Tech backers of Trump want minimal regulation around AI and cryptocurrencies to promote innovation without stifling growth.

Sacks’ appointment has been praised by tech entrepreneurs and investors in the industry who believe he will prioritize regulating the use of AI in critical applications rather than the development of AI models themselves. Trump’s nomination of Paul Atkins, a crypto advocate, as SEC chair was similarly well-received by the industry.

Trump, who was once critical of crypto, has now embraced digital assets and aims to make the U.S. the “crypto capital of the planet.” Bitcoin recently broke $100,000 for the first time, signaling a growing acceptance of digital assets in financial markets.

Sacks, a member of the “PayPal Mafia” along with prominent figures like Peter Thiel and Elon Musk, has a background in venture capital and entrepreneurship. He has been an early supporter of cryptocurrencies and believes they are revolutionizing the internet.

In addition to his role as A.I. & Crypto Czar, Sacks will lead a White House advisory council on science and technology. His appointment is seen as a positive step towards promoting innovation and growth in the digital currency and AI sectors.

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www.usatoday.com

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