David Sacks, recently appointed as the “AI and crypto czar” of the United States, faces a two-year window to implement significant pro-crypto policies before the 2026 midterm elections, according to Joe Doll, general counsel for NFT marketplace Magic Eden. This urgency stems from the Republicans’ narrow majority in the House of Representatives.
Doll cautioned that a potentially gridlocked government could impede regulatory progress, emphasizing the need for the current administration to enact crypto-friendly policies while it still controls Congress. He highlighted the slim Republican majority in the House, which traditionally tends to flip in midterm elections, potentially leading to a divided government and legislative stagnation.
The crypto community has reacted positively to Donald Trump’s nominations of pro-crypto advocates to key roles, viewing these appointments as conducive to fostering innovation. Among these appointments is Paul Atkins as chairman of the Securities and Exchange Commission, known for his involvement with the Digital Chamber’s Token Alliance. Stephen Miran was named as chair of the Council of Economic Advisors, garnering approval from the industry due to his views on deregulation and technological advancement.
Rep. French Hill from Arkansas has underscored the importance of a digital asset market structure bill, aligning with the Republican Party’s legislative priorities for the first 100 days of the forthcoming session. The initiative aims to establish a comprehensive regulatory framework for cryptocurrencies, led by GOP majority leader Steve Scalise.
