Trump Appoints David Sacks as AI and Crypto Czar

President-elect Donald Trump has appointed former PayPal COO, David Sacks, as the White House Artificial Intelligence and Crypto Czar. Sacks will develop a legal framework to provide clarity to the crypto industry, facilitating its growth within the U.S., according to Trump's announcement on Truth Social.

President-elect Donald Trump announced on Thursday the appointment of David Sacks, former Chief Operating Officer of PayPal, as the new White House Artificial Intelligence and Crypto Czar. This strategic move aims to strengthen the U.S. position in the rapidly evolving tech sectors.

Sacks is expected to draft a comprehensive legal framework that addresses the pressing need for clarity within the cryptocurrency industry. This effort is seen as pivotal in allowing the burgeoning sector to thrive under clear and predictable regulations.

Trump shared this development on his social-media platform, Truth Social, emphasizing the administration's commitment to fostering innovation and leadership in AI and crypto technologies.

(With inputs from agencies.)