Crypto Czar David Sacks held a press conference today with Senate leaders, where he outlined the administration’s priorities, including stablecoin legislation and a Bitcoin Reserve.

Sacks already spoke against Operation Choke Point 2.0 and specified today that unclear regulations created a chilling effect and disproportionate anti-crypto harassment. With clearer and friendlier legislation, businesses and the state will both benefit.

David Sacks’ Crypto Policy Press Conference

Since Donald Trump appointed David Sacks as the first Crypto Czar, it’s been unclear what role he will have in federal policy. He has advocated for an end to anti-crypto de-banking efforts and reclassifying NFTs and certain meme coins as collectibles, but there’s been little else so far.

Today, however, Sacks clarified his plans at a press conference with Senator Tim Scott. According to Sacks, the newly formed Digital Assets Working Group’s number one priority would be to assess plans for a Bitcoin Reserve.

Already 15 US states are in the process of adopting Bitcoin as a strategic reserve asset. Sacks has emphasized that President Trump’s top priority is to work towards a national Bitcoin reserve.

Another main priority for Sacks and the SEC would be to establish regulatory clarity. He mentioned how lack of clarity drove several crypto firms offshore. The Crypto Czar thinks this was the primary reason why FTX was able to carry out the biggest fraud in history.

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Author: Landon Manning

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