President Trump’s cryptocurrency and AI czar, David Sachs, has called cryptocurrencies “the industry of the future” and is making a bold case for America to regain leadership in digital innovation.

Speaking alongside a16z co-founders Marc Andreessen and Ben Horowitz, and entrepreneur Eric Torenberg, Sachs emphasized that the United States needs clear regulatory standards to keep crypto innovation domestic.

He criticized the Biden administration’s “regulation by enforcement” approach, arguing that under SEC Chairman Gary Gensler, crypto entrepreneurs were prosecuted instead of given clear rules to follow.

“Every entrepreneur I’ve talked to over the years says the same thing: Tell me what the rules are,” Sachs said. “During the Biden administration, we had an SEC chairman who took an approach called regulation by enforcement, which basically just means you get prosecuted.”

Sachs said President Trump’s campaign promises to make the United States the “crypto capital of the planet” and fire Gensler resonated with voters.

“He talked about how surprised he was by the huge ovation he received,” Sachs said, underscoring the growing political importance of crypto policy.

Sachs said the goal under the Trump administration will be to establish regulatory clarity that protects consumers while fostering innovation and competitiveness.

“Providing certainty means entrepreneurs can build right here in America,” he added.

Last night on 60 Minutes, President Trump doubled down on his support for cryptocurrencies in the United States, saying, “The only thing I care about is whether we can be number one in cryptocurrencies.”

Discussions also touched on AI competition with China, the need for a federal cryptocurrency framework, and the role of abundant energy in driving future technologies.

Sachs identified both cryptocurrencies and AI as two pillars of U.S. technological leadership, areas that, in his view, will determine global economic growth over the next decade.

Last December, President Trump appointed David Sachs as the White House AI and crypto czar to shape policy in both areas.

In his part-time role, Mr. Sachs was tasked with driving a pro-innovation and deregulatory approach to AI and developing a clear legal framework for the crypto industry.

Sachs helped create the U.S. Strategic Bitcoin Reserve. He insisted and made clear that the new federal Bitcoin reserve would be funded using BTC already owned by the U.S. government through asset forfeiture, meaning there would be no cost to taxpayers.

Sachs said the government intends to hold these assets rather than sell them, describing the reserve as a “digital Fort Knox.”

He added that the policy is aimed at preventing past mistakes where premature sales of Bitcoin cost taxpayers more than $17 billion in unrealized gains.

The post Trump’s Crypto Czar David Sachs Calls Cryptocurrency ‘The Industry of the Future’ originally appeared on Bitcoin Magazine and was written by Mika Zimmerman.