White House Crypto Czar Advocates for Stablecoin Regulation

David Sacks, Chair of the President's Council of Advisors on Science and Technology, also recognized as the White House AI and crypto czar, highlighted the U.S. administration's dedication to stablecoin legislation during a significant public event with Senate and House leaders on Tuesday.

"We're excited about working with both the House and Senate on stablecoin legislation," Sacks declared. He expressed his enthusiasm for collaborating with lawmakers, underlining the potential of stablecoins to reinforce the U.S. dollar's international dominance by encouraging its digital use as a global reserve currency, which could potentially generate trillions in demand.

Sacks stressed the necessity for regulatory clarity, criticizing previous arbitrary prosecutions by the Securities and Exchange Commission that had driven crypto innovation offshore. He concluded by stating that the administration will also investigate the feasibility of establishing a Bitcoin reserve as part of its broader digital asset strategy.