Trump combines AI and crypto in White House ‘czar’ role
US president-elect Donald Trump has announced the appointment of an artificial intelligence (AI) and crypto ‘czar’ as he prepares to return to the White House next month.
Trump, who has evolved from being a cryptocurrency sceptic to becoming an enthusiast, is due to begin his second term as president on 20 January 2025. Since defeating Kamala Harris in last month’s presidential election, the Republican has made a series of announcements about senior personnel for his top team and policies – with the appointment of Tesla and X (formerly Twitter) chief executive Elon Musk to co-lead a Department of Government Efficiency (DOGE) among the most prominent.
Writing on his social media platform Truth Social, Trump said that David Sacks would be the ‘White House A.I. and Crypto Czar’ – a role in which the former PayPal senior executive would “guide policy … in two areas critical to the future of American competitiveness”.
The news came a couple of days after Trump announced (also via Truth Social) the nomination of Paul Atkins as next chairman of the Securities & Exchange Commission (SEC). If confirmed, Atkins – a former SEC commissioner who is currently chief executive of Patomak Global Partners – would succeed Gary Gensler. The latter will be stepping down on 20 January, the regulator announced on 21 November.
Challenging fields
Sacks describes himself on his LinkedIn profile as chief operating officer/head of product (and ‘PayPal Mafia’) at PayPal from 1999-2022 and, since 2007, as founder and partner of Craft Ventures, a venture capital firm.
He will “focus on making America the clear global leader” in both AI and crypto, Trump wrote.
Both fields are proving challenging for policymakers worldwide, who find themselves struggling to keep pace with the risks and opportunities associated with the rate of technological innovation and appetite for adoption.
“He [Sacks] will safeguard Free Speech online, and steer us away from Big Tech bias and censorship,” Trump continued in his social media post. “He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the US.”
Sacks will also lead the Presidential Council of Advisors for Science and Technology (PCAST), Trump wrote. PCAST is the sole body of advisors from outside the federal government charged with making science, technology and innovation policy recommendations to the president and White House.
Trump described Atkins, meanwhile, as a “proven leader for common sense regulations”, saying that he (Atkins) “believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World”. Trump added that Atkins – who was an SEC commissioner from 2002 to 2008 – “also recognises that digital assets & other innovations are crucial to Making America Greater than Ever Before”.
Repealing Biden’s executive order
Trump is expected to use his second term to introduce sweeping changes to the stance taken by current president Joe Biden’s outgoing administration on AI.
According to the Republican Party platform, which outlines key policies and is entitled ‘Make America Great Again’, the Trump-Vance administration will rescind Biden’s Executive Order on AI that was signed in October 2023.
“We will repeal Joe Biden’s dangerous Executive Order that hinders AI innovation, and imposes radical leftwing ideas on the development of this technology,” the manifesto states. “In its place, Republicans support AI development rooted in free speech and human flourishing.”
Biden’s Executive Order set safety and privacy standards for AI to promote its ethical use. It warned that irresponsible use of AI could “exacerbate societal harms such as fraud, discrimination, bias and disinformation”. Along with the risk of deepening social injustices, it also highlighted the potential of AI technologies to “displace and disempower workers; stifle competition; and pose risks to national security”.
Podcast: How the US federal government is getting ready for President Trump
Crypto regulatory puzzle
Government agencies in the US, including the SEC, have been jostling for political attention – and power – when it comes to regulating cryptocurrencies.
The House of Representatives passed the Financial Innovation and Technology for the 21st Century Act’ (known as ‘FIT21’) in May, in a move described as representing “an unprecedented joint effort to deliver critical consumer protections and foster innovation in the US digital asset ecosystem”.
But Trump’s election victory derails the legislative apple-cart, with the challenge remaining to resolve jurisdictional disputes between agencies and establish regulatory clarity.
The president-elect has pledged to make the US the “crypto capital” and “Bitcoin superpower” of the world. The price of the world’s best-known cryptocurrency, Bitcoin, topped US$100,000 (about £78,000) last week (4 December) amid hopes of lighter crypto regulation.
Gensler has been widely seen as ‘anti-crypto’ whereas his nominated successor is seen as ‘pro-crypto’.
In the European Union, the Markets in Cryptoassets Regulation (MiCAR) entered into force in June 2023 and will be fully applicable from 30 December 2024.
Read more: What Trump’s presidency means for AI
DOGE: ‘outside government’
DOGE (which is also the name of the Dogecoin cryptocurrency that Musk promotes) is being set up by Trump to “dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures and restructure federal agencies”.
It will not be a formal government agency but will work “from outside government” to provide ”advice and guidance” to the White House and the Office of Management & Budget to “drive large scale structural reform and create an entrepreneurial approach to government never seen before”.
Musk will co-lead the initiative alongside Vivek Ramaswamy, a biotech entrepreneur who ran for the Republican nomination last year then backed Trump after dropping out.
Trump has called the DOGE initiative “the Manhattan Project of our time” – a reference to the American programme to develop the first atomic bomb.
Musk claimed at a rally in October that at least US$2 trillion could be cut from the federal budget, almost a third of federal government spending.
Trump has said that Musk and Vivek Ramaswamy will conclude their work by Independence Day on 4 July 2026.
This story was originally published on GGF’s sister title Global Government Fintech
About Ian Hall
Ian is editor of Global Government Fintech a sister publication to Global Government Forum. Ian also writes for media including City AM and #DisruptionBanking. He is former UK director for the pan-European media network Euractiv (2011-2018), editor of Public Affairs News (2007-2011) and news editor of PR Week (2000-2007). He was shortlisted for ‘Editor of the Year’ at the British Society of Magazine Editors (BSME) Awards in 2010. He began his career in Bulgaria at English-language weekly the Sofia Echo. Ian has an MA in Urban and Regional Change in Europe and a BA in Economics, both from Durham University.
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