The newly appointed crypto-czar of President Donald Trump says that the US digital assets industry will catch up quickly to those in other countries.
David Sacks, US Crypto Czar, says in a recent interview with Fox Business that Trump’s Executive Order seeking to clarify crypto guidelines will allow the country to catch up and be on par with other nations, like Singapore, who have embraced digital currencies earlier.
We’re going catch up fast. “We’re going to catch up really fast.”
“If you take a look at Silicon Valley, and in the tech industry as a whole, the US is leading in almost every category. Cryptocurrency being the only exception, I believe that this will be rectified very soon because of the executive order of President Trump.”
Sacks identifies three areas in the industry where he believes the government will focus to create a more clear regulatory environment.
Number one: Market structure. What is considered a collectible, a digital or a physical asset? Determining the structure of the market is crucial because there are several different categories.
Stablecoins are the second area. Stablecoins, I believe, are an interesting field. They give us an opportunity to expand the dominance of the dollar internationally. We can create a digital currency that will be used by people around the globe.
We haven’t created it yet but we will study that issue.” It’s not yet created, but we will study the issue .”
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The post Crypto Czar David Sacks says USA to Catch up ‘Really fast’ to Rest of World’s Digital Asset Industries might be updated as new information is revealed.
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