Fox speaks to American Crypto Tsar David Sacks: The First Cryptocurrency Executive Order, Bitcoin Reserve and Trump Coin

Compilation | Wu says the blockchain

Fox Business invited David Sacks “Crypto Czar” to America to discuss the latest decree published by Trump. The executive decree signed by President Trump aims to promote innovation in the American cryptography industry and artificial intelligence while establishing a clear regulatory framework. The main points include:

1. Regulatory reform of cryptographic industry: The Trump administration is committed to improving the regulatory environment of cryptographic industry and promoting the United States as a world cryptography center. The executive decree establishes a working group responsible for the creation of a clear market structure and the classification of digital assets (such as titles, basic products, collectibles, etc.).

2. Stablecoins and digital dollar: Emphasis is placed on the innovation of stablecoins, promoting international domination of the dollar in the digital field while avoiding the development of central bank digital currency (CBDC) to prevent potential threats from personal freedom.

3. Global competition and artificial intelligence: The Trump administration plans to strengthen the development of artificial intelligence, proposing that the United States becomes the World Center for AI, replacing bulky regulations of the Biden administration.

4. Views on “Trump Coin”: Trump Coin is considered a digital collection rather than a cryptocurrency, and does not constitute a conflict of interest.

In summary, Trump’s decree aims to stimulate innovation in crypto and AI industries thanks to clear regulatory policies, ensuring that the United States remains competitive in these areas of the border while protecting freedoms personal.

Annex: in modern American policy, “Czar” generally refers to a person appointed by the government who is responsible for providing advice and coordinating policies in a specific field, similar to “director”, “commissioner” or ” “.

The full text is as follows:

Edward: First of all, please join us, David. President Trump said on July 27 that he would prevent federal agencies from taking measures against cryptographic industry. Today, he seems to have held this promise, right?

David Sacks: Yes, that’s right. President Trump said in his campaign that he wanted to be the “first president of cryptography”. He mentioned in his speech in Nashville that he planned to change the regulatory environment of cryptographic industry and to make in the United States the World Center for Cryptographic Industry. Today, he signed an executive decree that led the working group to create a new regulatory framework to maintain cryptographic innovation in the United States, rather than leading industry abroad as he did during the Biden administration.

Edward: We will talk about this setting later. Firstly, this executive decree mentions a break on what President Trump considers “overcharging and surpassing actions”. What is it specifically referenced?

David Sacks: In the past four years, the Biden administration has mainly continued and abolished cryptographic companies, which has led a lot to move abroad. I have heard that many founders complain that the Biden administration has never clearly told them what the rules were, but they were prosecuted. What industry needs most is regulatory clarity; The founders just want to know what the rules are, and they will comply. However, the Biden administration has never provided such clear advice, which has led all innovation abroad and almost made this future technology lose in the United States. Now President Trump said the United States should become the Global Center for Crypto, and these innovations should occur in America.

Edward: A working group has now been created, led by you. What are your main areas of interest? What type of directives do you expect to publish?

David Sacks: We have several main areas of interest. The first is the structure of the market. We must clarify what constitutes security, what is a commodity and what are digital assets or collectibles. All of this needs clear definitions.

Then the stablecoins. I think stablecoins are a very interesting area; They can help us further extend the world’s domination of the dollar. We have the possibility of creating a digital dollar that can be used worldwide. The third area that we will explore is whether it is necessary to establish a national reserve of digital assets. This problem is still at the evaluation stage and we have not yet made a final decision.

Edward: Regarding the reserve of digital assets, you have not decided to progress, right?

David Sacks: Yes, we currently assess this problem and we have not decided to proceed.

Edward: Do you think that cryptographic assets are assets or money?

David Sacks: Regarding digital assets, they can take many different forms. For example, some digital assets are titles, some are basic products and others are collectibles such as NFT or pieces even. Thus, digital assets represent a very large field of innovation. For this reason, we need a clear regulatory framework that defines each type. What the founders most need are these clear rules; They need to know what they can do without facing unreasonable accusations due to unclear rules.

Edward: How far do you think the United States is in cryptographic space compared to other countries? How much can this decree help the United States to catch up?

David Sacks: We will catch up quickly. Although innovation has already started to flow to Singapore and certain European countries, I believe that the United States will quickly reverse this trend. Look at the Silicon Valley and the whole technological industry; The United States leads to almost all areas, the crypto being one of the few exceptions. And now, President Trump’s decree will undoubtedly change this.

Edward: Regarding “Trump Coin”, he started before the president took office. Do you fear that this can create a conflict of interest?

David Sacks: I don’t think there is a conflict. “Trump Coin” is actually a collection, such as baseball cards or stamps. People buy it to commemorate certain events. It is therefore my personal point of view; I am not a regulator, but I think there is absolutely no problem with that.

Edward: This decree also prohibits the government from developing the Central Bank digital currency (CBDC). Why has this decision been made?

David Sacks: Central Bank digital currency is an important threat to freedom and privacy. A CBDC would mean a digital currency controlled by the federal reserve, which could gradually replace the species and record the transactions of each. This would not only make each transparent transaction, but could also lead to new laws and controls that restrict the freedom to spend people. Everyone fears that this will become a “1984” style “style” model, and no one wants to take this path. We think we can create something similar to a digital dollar via Stablecoins without following the CBDC route.

Edward: But government digital currency could compete with Bitcoin; Is this one of the reasons for this decision?

David Sacks: Any government can create stablecoins, but the dollar is already the global reserve currency, so I am not worried about this kind of competition. I think we should further extend the domination of the dollar in the digital field and push it on the world online market. This would not only create a huge demand for the US Treasury obligations, but would also help support our finances while reducing long -term interest rates.

Edward: David, one last question. You are also in charge of the artificial intelligence sector. The recently signed executive decree positions the United States as a world center for AI. What does this mean for the future?

David Sacks: As President Trump said today, we want the United States to be a world leader in artificial intelligence and crypto. Both are critical border technologies for the future. The Biden administration had previously published a decree of more than a hundred pages, which was too heavy, and the industry reacted strongly. President Trump promised to cancel this decree and replace it with more effective policies, and he has now held this promise.

Edward: Well, it seems that there will be many changes to come. Thank you for your ideas, David Sacks.