David Sacks, the newly appointed crypto czar under President Donald Trump, has expressed confidence that the U.S. will quickly close the gap in the global digital asset race.
In a recent interview with Fox Business, Sacks emphasized that Trump’s executive order aimed at establishing clear cryptocurrency guidelines will pave the way for the U.S. to catch up to countries like Singapore that have been at the forefront of digital asset adoption.
Sacks stated, “We’re going to make rapid progress. The innovation was drifting overseas, particularly to places like Singapore and parts of Europe, which were ahead of us. However, I believe that dynamic is going to change very quickly.”
Pointing to the U.S.’s leadership in technology and innovation, Sacks highlighted that crypto has been one of the few exceptions. However, he believes this will be rectified soon with the government’s new push to establish a more supportive regulatory framework, following Trump’s executive order.
Sacks identified three key areas of focus for the U.S. government in shaping the future of digital assets:
With these focused efforts, Sacks believes the U.S. will soon be in a strong position to lead the digital asset space.
Circle’s recent move to file for an IPO has sparked skepticism among industry experts, who are raising questions about the company’s financial health and future prospects.
Tokenized gold is gaining momentum, with its market cap now surpassing $1.2 billion, driven by record-high gold prices and increasing interest in blockchain-based assets.
The crypto market might be on the verge of hitting a local bottom within the next two months, as ongoing uncertainty around US import tariffs keeps investor sentiment low.
Coinbase CEO Brian Armstrong is urging U.S. lawmakers to modernize stablecoin regulations, advocating for consumers’ right to earn interest on their stablecoin holdings.