White House crypto czar to share strategic priorities for industry

The White House is set to overhaul years of crypto policy on Tuesday, as U.S. crypto czar David Sacks plans to hold a press conference aimed at reinforcing America’s leadership in the global crypto sector.

The event is expected to outline Sacks' key priorities for the digital asset industry, including the Trump administration’s goal of establishing the U.S. as a global leader in the space. Earlier this year, President Donald Trump appointed Sacks as chair of a new working group on digital assets, tasked with creating a regulatory framework for the crypto industry. The group is set to release a report this year covering topics such as stablecoins, market structure, oversight, and investor safeguards.

Sacks, a South Africa-born entrepreneur and member of the “PayPal mafia,” has already hinted at his stance on crypto in an interview last month: “You’ve got digital assets that are securities, you’ve got digital assets that are commodities, you’ve got digital assets that are collectibles like NFTs or meme coins. So, you’re talking about a whole vast area of innovation,” he said.

“Fresh from his assertion that NFTs and memecoins should be classified as collectibles rather than securities, Sacks is expected to discuss how this perspective could reshape the regulatory landscape,” Alan Orwick, co-founder of Quai Network, told TheStreet Crypto.

Orwick also suggested that the event might outline plans for a U.S. sovereign wealth fund incorporating digital assets. This follows Trump’s Monday announcement of a sovereign wealth fund — an initiative some in the crypto industry believe could serve as a vehicle for Bitcoin and other cryptocurrency investments.

However, others warn of the risks associated with crypto in such a fund. “There is one significant issue: excessive crypto volatility,” Arthur Azizov, CEO of B2BINPAY, told TheStreet Crypto. “The crypto market remains extremely ‘shallow,’ with speculative traders outnumbering long-term institutional investors, such as BlackRock, MicroStrategy, and Fidelity. To overcome this, crypto needs a thorough legislative framework."

Sacks will be joined by Congressman French Hill, the new chair of the House Financial Services Committee, who has publicly recommended investigating Operation Chokepoint 2.0 — an alleged attempt to restrict U.S. banks from offering services to crypto firms.

“I wouldn't be surprised if this announcement assures banking access as a key item and also communicates that we'll have proposals for market structure within the next six months,” Joe Doll, General Counsel for Magic Eden, told TheStreet Crypto. However, the likelihood of a plan for a strategic bitcoin reserve seems early, Doll added.

The event will also include Senate Banking Committee Chairman Tim Scott, Senate Agriculture Committee Chairman John Boozman, and House Agriculture Committee Chairman G.T. Thompson.