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Techub News reported, according to Decrypt, David Sacks, the White House's lead on artificial intelligence and cryptocurrency matters, has stepped down after reaching the 130-day term limit for special government employees. He will continue to engage in government affairs as the co-chair of the President's Council of Advisors on Science and Technology, focusing on artificial intelligence and broader technology policy. During his tenure at the White House, Sacks led the Trump administration's crypto policy, including pushing for related legislation and supporting a U.S. strategic Bitcoin reserve, though some major reforms anticipated by the industry remain pending. Sacks had stated that market structure and stablecoin legislation could be passed within the first 100 days of the administration, but the "CLARITY Act" has encountered obstacles in Congress. Additionally, plans to establish an industry leader "Crypto Council" have not materialized due to internal disagreements, and issues such as the funding source for the strategic Bitcoin reserve purchases remain to be clarified.
Techub News reports, according to Semafor, that an independent oversight body of the U.S. State Department is reviewing an investigation request made by two Democratic senators. The request aims to determine whether U.S. Special Envoy Steve Witkoff and White House advisor on AI and cryptocurrency David Sacks violated ethics rules in decisions related to approving the export of advanced U.S. chips to the UAE. Furthermore, their related work has drawn scrutiny from senators after both were revealed to have financial ties with the UAE in the cryptocurrency sector.
Techub News: David Sacks, the White House cryptocurrency and AI lead, tweeted: "Five months ago, The New York Times assigned five reporters to try to find conflicts in my role as White House AI & Crypto Lead. They made allegations through a series of 'fact checks' which we rebutted in detail. Their allegations were varied: fabricating a dinner meeting with a tech giant CEO, inventing promises of access to the President, baselessly accusing interference in defense contracts. Each time we debunked one allegation, The New York Times moved to the next. This is why the reporting was delayed for five months. Today they apparently gave up completely and published this worthless report. Given that The New York Times clearly had no intention of writing a fair story, I have retained Clare Locke, a law firm specializing in defamation litigation, to handle the matter."
Techub News, according to Cointelegraph, David Sacks, the White House AI and Cryptocurrency Affairs Czar, stated that the CLARITY Act is a key step in making the United States the global capital of cryptocurrency. The bill aims to establish a clear regulatory framework for digital assets. Sacks has previously emphasized the importance of regulatory clarity for the development of the industry, arguing that the current lack of clear rules hinders innovation and leads to a brain drain.
Techub News reports, according to FinanceFeeds, David Sacks, the White House director for AI and cryptocurrency affairs, recently held multiple closed-door meetings on Capitol Hill, engaging with several senior bipartisan lawmakers to promote the passage of the "Digital Asset Market Transparency Act." The report states that Sacks left the office of Senate Banking Committee Chairman Tim Scott after the meetings, with the number of senators participating reaching double digits. Sacks indicated that this move is a key part of "completing" cryptocurrency regulatory work in the first month of the new year, aiming to replace the previous uncertain environment with a clear, codified framework to provide long-term certainty for developers and investors.
Techub News reported that David Sacks, the White House cryptocurrency and AI director, tweeted, "Today we had a great call with Tim Scott and John Boozman, who confirmed that the review of the CLARITY Act will take place in January. Thanks to their leadership, and the support from French Hill and Glenn Thompson in the House, we are closer than ever to passing the landmark cryptocurrency market structure legislation called for by President Trump. We look forward to completing this work in January."
Techub News, White House cryptocurrency and AI lead David Sacks said: "Today on Capitol Hill, I met with Senate members and had productive discussions with key Democratic lawmakers. I am confident that we are fully capable of passing crypto market structure legislation with bipartisan support this year, which will ultimately bring much-needed regulatory clarity to the cryptocurrency industry and consolidate the success of the U.S. Stablecoin Innovation GENIUS Act signed by President Trump earlier this year."
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