This week, U.S. President-elect Donald Trump announced significant appointments to shape his administration’s cryptocurrency policy.
Former PayPal executive David Sacks was named “White House A.I. & Crypto Czar,” and Washington attorney Paul Atkins was nominated to head the Securities and Exchange Commission (SEC).
Sacks, an early bitcoin investor and co-founder of Craft Ventures, is tasked with guiding crypto policy and working on a legal framework to provide clarity for the industry. Atkins, a former SEC official, brings experience in assisting crypto companies with regulatory challenges and has been an advocate for innovation in financial services.
Tesla CEO Elon Musk, a vocal cryptocurrency supporter, has also been appointed by Trump to co-lead the newly formed Department of Government Efficiency, referred to as “DOGE” after the popular cryptocurrency. Musk has frequently endorsed digital assets and is known for his involvement in projects like xAI, aligning him with Trump’s pro-crypto stance.
The crypto industry has welcomed these appointments, anticipating a shift from the Biden administration’s stricter policies. Bitcoin surpassed the $100,000 milestone this week, reflecting investor optimism about regulatory changes under Trump’s leadership.
Sacks will also head a White House advisory council on science and technology, coordinating efforts with agencies like the SEC and Commodity Futures Trading Commission (CFTC). The administration aims to clarify how digital tokens are classified as securities, commodities, or utilities.
While industry leaders view these steps as an opportunity for growth, some consumer advocates have raised concerns about gaps in investor protections. The appointments signal a significant change in the U.S. approach to cryptocurrency regulation as the new administration prepares to take office.
