David Sacks Unveils Crypto Plan: Bitcoin Reserve, Stablecoin Legislation, and Regulatory Clarity
David Sacks, the White House’s Crypto Czar, has outlined a bold new plan to reshape U.S. crypto policy, focusing on a Bitcoin Reserve, stablecoin legislation, and regulatory clarity. Speaking alongside Senate leaders, Sacks emphasized the need for clear rules to prevent fraud, boost economic stability, and keep crypto innovation in the U.S.
Bitcoin Reserve Gains State-Level Momentum
At a press conference with Senator Tim Scott, Sacks announced the creation of a Bitcoin Reserve, a key initiative under the Digital Assets Working Group. He confirmed that 15 states are already working on adopting Bitcoin as a strategic reserve asset, aligning with the administration’s broader economic goals.
Regulatory Clarity to End Crypto Uncertainty
Sacks criticized past SEC enforcement actions, arguing that unclear regulations forced crypto businesses overseas and enabled fraud—including the FTX collapse.
“The SEC wouldn’t tell founders the rules, then prosecuted them anyway. Many told me they were debanked just for starting a crypto company,” Sacks said.
His plan includes ending anti-crypto banking restrictions and reclassifying NFTs and select meme coins as collectibles, providing them with clearer legal status.
Stablecoin Legislation Takes Center Stage
Stablecoin regulation is another major priority for the 119th Congress. French Hill, Chairman of the House Financial Services Committee, confirmed that new legislation will integrate stablecoins into the FIT21 regulatory framework, which had faced resistance under the Biden administration.
“Stablecoins could generate trillions in demand for U.S. Treasuries, helping lower long-term interest rates,”Sacks noted.
The push for stablecoin clarity has bipartisan backing, with Senate leaders Bill Hagerty and Tim Scott joining the effort.
A New Era for U.S. Crypto Policy?
Sacks’ announcement signals a major shift toward structured, predictable crypto regulations in the U.S. With Bitcoin reserves, stablecoin integration, and clearer rules on the agenda, the administration appears committed to cementing the country’s role in the global digital asset economy.
Featured image from: cryptoslate.com