- David Sacks works with lawmakers for the stablecoins legal framework
- Moving legislation through House, Senate, and Congress takes time
- But he says that it could be achieved during this year
- Also, he shares details about a Bitcoin reserve
- New task force is evaluating this feasibility
White House AI and Crypto czar David Sacks illuminates the efforts and priorities regarding digital assets and the appropriate legal framework. In his opinion, their efforts aim to create a golden age in digital assets, and creating a clear regulatory framework for stablecoins is the first priority.
He also pointed out that the new task force is evaluating the feasibility of a Bitcoin reserve or some sort of digital asset stockpile, which also works towards the same goal and is one of the first things needed.
More About David Sacks’ Task Force Priorities and Efforts
According to CNBC, David Sacks and other pro-crypto figures in Donald Trump’s new administration continue to work hard to develop and implement digital assets as a key element in U.S. economic leadership.
David Sacks:
“I look forward to working with each of you in creating a golden age in digital assets.”
That said, David Sacks brings some realism to the expectations by pointing out that legislation is a process with many participants and takes time.
“They are very committed to moving legislation through the House and the Senate this year in order to provide that clear regulatory framework that the digital assets ecosystem needs to sustain innovation in the United States. Moving legislation through Congress takes time, but I think this is something we could do in the next six months.”
Also adding specifics, he said their first priority at this point is to create a clear regulatory framework for stablecoins, according to the stablecoin bill introduced by Sen. Bill Hagerty (R-Tenn.).
Sen. Bill Hagerty:
“From enhancing transaction efficiency to driving demand for U.S. Treasuries, the potential benefits of strong stablecoin innovation are immense. My legislation establishes a safe and pro-growth regulatory framework that will unleash innovation and advance the President’s mission to make America the world capital of crypto.”
However, probably the most eagerly awaited decisions about the national Bitcoin reserve remain up in the air.
This can be understood by the individual initiatives of some states, such as Texas, which are seeking to create a state-owned Bitcoin reserve regardless of national efforts.
David Sacks did not sidestep the question and said that his new task force:
“is evaluating the feasibility of a Bitcoin reserve. Whether it’s feasible to create either a Bitcoin reserve or some sort of digital asset stockpile. Haven’t committed yet to doing it, but it’s one of the first things.”
Conclusion
It is worth noting that it is quite important that in addition to Donald Trump’s strong but loud statements, we are getting more measured and detailed comments on the specific step-by-step actions and priorities of his administration.
This brings clarity to the likely development of crypto assets and contributes to a better understanding of the future of all things DeFi, although that future is being created before our eyes and can change instantly.
Be aware and stay tuned.
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