President-elect Donald Trump has appointed venture capitalist David Sacks to the newly created role of "White House AI and cryptocurrency czar".

Announcing the decision on Truth Social, Trump stated, “I am pleased to announce that David O. Sacks will be the ‘White House A.I. & Crypto Czar.’ In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness.”

Trump further highlighted Sacks' key priorities, which include creating a clear legal framework for the cryptocurrency industry, ensuring free speech online, and combating Big Tech bias and censorship. The new position also places Sacks at the helm of the Presidential Council of Advisors for Science and Technology, emphasizing his leadership in steering national policies in these transformative fields.

As AI and cryptocurrency become increasingly vital to global economic and technological advancement, Sacks will act as a bridge between the White House, Congress, and regulatory agencies, like the SEC and CFTC. His role aims to provide much-needed regulatory clarity for the crypto industry while fostering an innovation-friendly environment.

This announcement follows the nomination of Paul Atkins, a recognized supporter of cryptocurrency, as the new chairman of the U.S. Securities and Exchange Commission (SEC) after the resignation of Gary Gensler on November 21.