David Sacks, the newly appointed White House Crypto Czar, held a press conference outlining plans for the US crypto industry's growth after recent regulatory changes.
Regulatory Criticism and SEC
During his press conference, Sacks expressed dissatisfaction with previous SEC policies, accusing them of stalling innovation. He stated that many crypto startup founders have complained about the lack of clarity in regulatory requirements, leading to legal issues and loss of banking services.
Innovations in Stablecoin Regulations
Stablecoins were a key point of discussion at the conference. Sacks mentioned a bill introduced by Senator Bill Hagerty, aimed at maintaining the US dollar's dominance as a global reserve currency through stablecoins.
Considering Bitcoin Reserves
The conference also covered the potential creation of a Bitcoin reserve. Sacks confirmed that President Trump has instructed this matter to be reviewed, but key appointments need to be confirmed before making decisions.
David Sacks' press conference elicited mixed reactions from the crypto community due to a lack of specific details, despite ambitious plans for the US crypto industry's growth.
