As Bitcoin reaches record highs, experts focus on cryptocurrency regulation in the U.S.
AI Regulation
David Sacks, White House advisor on artificial intelligence and cryptocurrency, discussed regulation on CNBC's 'Closing Bell Overtime'. He confirmed support for chip export restrictions to China but expressed the need to reconsider these restrictions for other countries. 'When America competes, it wins. We don’t want advanced semiconductors to end up in China, but we should support other countries to build on American technology infrastructure,' Sacks stated.
Energy Needs for AI
In discussing energy needs for artificial intelligence, Sacks addressed an energy deficit previously mentioned by Elon Musk regarding 'AI factories.' He stated that the Trump administration aims to deregulate the energy sector. 'We need to produce more electricity. We need to ease permitting processes and build data centers,' he said.
Stablecoin Legislation
Responding to questions about the stablecoin bill, Sacks noted they received the support of 15 Democratic senators in the Senate vote and expect the bill to pass. He emphasized that this regulation will provide new, cheap, and efficient payment infrastructures to the American economy. 'Stablecoins will increase the dollar’s dominance in the digital world and create a trillion-dollar demand for treasury bonds,' he argued, adding that stablecoins will be effective immediately once the legal framework is provided.
Thus, David Sacks' discussion highlights key directions in regulating both artificial intelligence and stablecoins, which could significantly impact the future of financial technologies in the U.S.
