US presidential election Donald Trump announced the appointment of artificial intelligence (AI) and the cryptocurrency “Czar” while preparing to return to the White House next month.
Evolving from cryptocurrency skepticism to becoming a lover, Trump is scheduled to begin his second term as president on January 20, 2025. Due to his top team and policy, Elon Musk, CEO of Tesla and X (formerly Twitter), has been appointed to jointly lead the most notable government efficiency (“Doge”).
Writing on Social Media Platform Truth, Trump said David Sachs was “White House AI and Crypto Czar.” . ‘
The news comes days after Trump announced the appointment of Paul Atkins (even true social) as the next chairman of the Securities and Exchange Commission. If confirmed, Atkins, a former SEC committee member who is now Chief Executive Officer of Patomak Global Partners, will replace Gary Gensler. The latter will resign on January 20th, regulators announced on November 21st.
Watch this US election: How the federal government is preparing for new presidents – This webinar organized by the Sister Title Global Government Forum (2024) to explore how civil servants prepare for their next presidential team (Recorded on November 19th)
A challenging field
Sacks has been the founder and partner of venture capital company Craft Ventures since 2007 as the Chief Operating Officer/Product Officer/Product Officer (and “Paypal Mafia”) of PayPal from 1999 to 2022. , explains myself in my LinkedIn profile.
He “focuses on making America a clear global leader” in both AI and cryptography, Trump wrote.
Both areas have proven challenging for policymakers around the world. Policymakers around the world find themselves struggling to deal with the risks and opportunities associated with the proportion of technological innovation and the appetite of adoption.
“He (the bag) protects freedom of speech online and keeps us away from major technical bias and censorship,” Trump continued in a social media post. “He works on a legal framework, so the crypto industry can have the clarity it has been seeking and thrive in the US.”
Sachs will also lead the Presidential Council of Science and Technology Advisors (Pcast), Trump wrote. Pcast is the only non-federal advisory body accused of making science, technology and innovation policy recommendations to the President and the White House.
Meanwhile, Atkins says he is a “proven leader in common sense regulation,” and he (Atkins) promises a robust and innovative capital market that meets the needs of investors and provides capital to create us. They say they believe in the best economy in the world. ” Trump added that Atkins, who was SEC commissioner from 2002 to 2008, “We also recognize that digital assets and other innovations are important to make America bigger than ever.”
For more information on related articles, as the US president continues, details about the efficiency of the government of Musk will emerge. This is a news story from the Sister Title Global Government Forum (November 26, 2024)
Repealing Biden’s executive order
Trump is expected to use his second term to introduce drastic changes to current President Joe Biden’s retirement administration’s stance on AI.
According to a Republican platform entitled “Make America Great Again,” the Trump Vance administration will withdraw Biden’s executive order on AI, signed in October 2023.
“We will abolish Joe Biden’s dangerous executive order that will hamper AI innovation and impose radical left-wing ideas on the development of this technology,” Manifesto said. “Instead, Republicans support AI development rooted in freedom of speech and human prosperity.”
Biden’s executive order has set safety and privacy standards to promote the ethical use of AI. He warned that irresponsible use of AI “can exacerbate social harms such as fraud, discrimination, bias and misinformation.” In addition to the risk of deepening social injustice, it also highlighted the possibility of AI technology that “drove and crippled workers. Reduces competition; poses risks to national security.
Musk co-founded Openai. Its ChatGPT tool has driven AI mainstream and launched a global conversation about potential opportunities and risks.
Related Articles Sister Title: President Trump’s Meaning of AI from the Global Government Forum – November 12, 2024
Crypto-regulation puzzles
US government agencies, including the SEC, have competed for political attention and power when it comes to regulating cryptocurrency.
The House of Representatives passed financial innovation and technology in 21st century law known as the 21st century law (FIT21) in May.
But Trump’s election victory remains the challenge of derailing the legislative Apple Cart, resolving interagency jurisdictional disputes and establishing clarity of regulations.
The presidential election has pledged to make the United States a global “crypto capital” and a “bitcoin superpower.” Bitcoin, the world’s most famous cryptocurrency, exceeded USD 100,000 (about £78,000) last week (December 4th), and we were hoping that crypto regulations would be lighter.
Gensler is widely viewed as “anticrypt,” but his nominated successor is considered “procrypt.”
The European Union will take effect in June 2023 with the Crypto Asset Regulation (MICAR) market, which will be fully enforced from December 30, 2024.
*** Join LinkedIn’s Global Government Fintech****
Doge: “Outside the Government”
Doge (also known as the Musk-spurred Dogecoin Cryptocurrency) is to “dismantle government bureaucracy, reduce excessive regulations, reduce wasteful spending, and restructure federal agencies.” It was founded by Trump.
It is not a formal government agency, but it said that it “advice and guidance” was given to the White House and the Bureau of Management and Budget to promote massive structural reforms and create an entrepreneurial approach to government that we have never seen before. Works “from the outside” to provide. in front’.
Musk co-led with biotech entrepreneur Vivek Ramaswamy, who ran for the Republican nomination last year, supporting Trump after dropping out.
Trump called the Doge initiative “The Manhattan Project of Our Time.” This is a reference to the American programme to develop the first atomic bomb.
Musk argued at a rally in October that at least US$2 trillion could be cut from the federal budget, which is almost a third of federal spending.
Trump says Musk and Vivek Ramaswamy will close their work by July 4th, 2026.
