U.S. President Donald Trump signed executive orders related to cryptocurrency and artificial intelligence, which is expected to give these two emerging industries a boost. White House artificial intelligence and cryptocurrency director David Sacks was also present when Trump signed. He is a venture capitalist and generous political donor.
The cryptocurrency executive order stipulates the establishment of a working group to advise the White House on digital asset policy. Participating agencies will include federal units such as the Treasury Department, the Department of Justice, the Securities and Exchange Commission, and the Commodity Futures Trading Commission.
The task force is tasked with submitting a report to the president within approximately six months recommending a regulatory framework and legislative proposals, including an assessment of the creation of a digital asset reserve.
Sacks told Trump that the task force will “under your leadership make the United States the cryptocurrency capital of the world.”
He also said that artificial intelligence initiatives will allow the United States to "dominate and lead the world in AI."
"Do you find any of this exciting? Maybe not, unless they're going to make a lot of money for the country," Trump said of his executive orders.