‘Banks Are Going To Get Fully Into Crypto:’ David Sacks Predicts Unified Digital Assets Industry
David Sacks, the Trump administration’s AI and crypto czar, has predicted that banks will become fully involved in the crypto industry, paving the way for a unified digital assets sector.
The prediction comes as legislation on crypto market structures stalls over whether third-party platforms can offer rewards programs to stablecoin users. Banks argue such programs bypass yield restrictions, while crypto firms defend them as essential revenue features for decentralized finance.
Compromise Needed For Legislative Progress
In an interview with CNBC’s Squawk Box, Sacks discussed the ongoing debate over stablecoin regulation in the U.S.
“The banks are going to get fully into the crypto industry. So we’re not going to have a separate banking industry and crypto industry. It’s going to be one digital assets industry,” Sacks said.
He also emphasized the …
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