Written by Matthew Coleman.
David Sacks, President Donald Trump’s top pick for AI and crypto policy, made it clear in Washington—crypto isn’t just here to stay, it’s about to boom. Speaking alongside key congressional leaders, Sacks outlined a plan to make the U.S. the global leader in digital assets. His goal? Keeping innovation on American soil and preventing financial dominance from slipping overseas.
Trump’s executive order has put Sacks in charge of a regulatory working group, tasked with creating clear rules for digital assets. Alongside this, Congress is forming a bipartisan group to push forward crypto-related legislation. The message is clear: the government isn’t dragging its feet on this one.
A ‘Golden Age’ for Crypto?
Sacks was enthusiastic, calling crypto a “week-one priority” for the administration. He believes the industry is on the verge of a golden age—one where the U.S. dominates in digital currency and blockchain technology.
A key part of this push involves stablecoins. Earlier in the day, a Senate bill surfaced proposing oversight of stablecoin issuers. The legislation, penned by Republican Senator Bill Hagerty, would split oversight responsibilities between state agencies, the Federal Reserve, and the Office of the Comptroller of the Currency. Tim Scott, the new Senate Banking Committee chair, confirmed that stablecoins would be the first crypto-related issue his panel tackles.
Congress Aligns on Digital Asset Regulation
Lawmakers from both chambers are getting involved. House Financial Services Committee Chair French Hill, House Agriculture Committee Chair Glenn “GT” Thompson, and Senate Agriculture Committee Chair John Boozman all voiced support for comprehensive market structure legislation. Many referenced last year’s Financial Innovation and Technology for the 21st Century Act (FIT21), which passed the House but stalled in the Senate.
Hill indicated that a FIT21-like bill would move in tandem with the stablecoin legislation, ensuring crypto regulation is approached comprehensively rather than piecemeal. The focus is on clarity—both for companies operating in the space and for consumers engaging with digital assets.
Keeping Crypto Innovation in the U.S.
Sacks stressed the importance of keeping crypto innovation on American soil. He pointed to how digital transformation has already reshaped other industries and emphasized that financial assets are next in line. The goal is to ensure that the U.S. benefits from the wealth and job creation tied to the growth of blockchain and digital assets rather than ceding that ground to foreign competitors.
“We want that value creation to happen in the United States, rather than giving it away to other countries,” Sacks stated.
Our Take
This aggressive push for crypto regulation under Trump is significant. While innovation is important, there’s a real risk that prioritizing digital assets could lead to financial instability. Crypto markets remain volatile, and pushing too hard, too fast could set the stage for economic disruption. A measured approach is needed to ensure that everyday Americans don’t suffer the fallout of an overheated digital asset market.
