Trump Appoints David Sacks as Crypto Czar Amidst Bitcoin Boom

U.S. President-elect Donald Trump has appointed former PayPal COO David Sacks as his artificial intelligence and cryptocurrency czar, aiming to clarify legal frameworks and promote growth in the crypto industry. This move accompanies a nomination of crypto advocate Paul Atkins to lead the SEC, fostering a crypto-friendly environment.

U.S. President-elect Donald Trump has announced the appointment of David Sacks, former PayPal Chief Operating Officer, as the White House's new artificial intelligence and cryptocurrency czar. Trump's decision highlights his commitment to revamping U.S. policy on digital assets.

This appointment is part of a broader strategy by Trump's incoming administration, which includes reshaping policies through new officials at the Securities and Exchange Commission and Commodity Futures Trading Commission. The administration aims to simplify regulations, offering clarity sought by the growing cryptocurrency industry.

In a notable development, Trump also announced the nomination of Washington lawyer Paul Atkins as the SEC chair, a choice well-received by the crypto industry. As Bitcoin's value hits an all-time high, the announcements signal a promising future for digital currencies under a supportive U.S. administration.

(With inputs from agencies.)