Recently appointed “AI and crypto czar” David Sacks only has 2 years to push through pro-crypto policies before the 2026 midterm elections in the United States, Joe Doll, the general counsel for NFT marketplace Magic Eden, told Cointelegraph in an interview.
According to Doll, the threat of a gridlocked government could stifle regulations, and the current administration must push through pro-crypto policies while still in control of both chambers of Congress. Doll said:
“The House majority is a real slim margin, and it probably flips because it almost always flips. So you could have a divided government that gets things locked up and frozen in two years. So we have 24 months to push through something important.”
Trump’s numerous appointments of pro-crypto individuals to advisory roles and cabinet positions are widely viewed as a positive development by the crypto community, as the incoming administration promises to pass pro-innovation policies.
Current party breakdown in the United States House of Representatives. Source: US House
Related: Bitcoin can separate money and state — David Sacks
Trump’s pro-crypto nominations and GOP market structure bill
The nomination of David Sacks was celebrated by crypto industry executives. Sacks has been an outspoken proponent of cryptocurrencies, technological innovation, and economic freedom for years.
President-elect Trump also nominated Paul Atkins as chairman of the Securities and Exchange Commission (SEC) on Dec. 4, 2024 — citing his role as co-chairman of the Digital Chamber’s Token Alliance since 2017 as one of the reasons for the nomination.
On Dec. 22, the incoming President named Stephen Miran as Council of Economic Advisors chairman. The selection of Miran as a top advisor was also well-received by the crypto industry due to his stance on deregulation and fostering technological progress.
Rep. French Hill — A US Congressman for Arkansas — recently appeared on CNBC and said that a digital asset market structure bill is a top priority for the Republican Party.
The Congressman claimed that introducing a comprehensive regulatory framework for cryptocurrencies within the first 100 days of the upcoming legislative session is an agenda item of GOP majority leader Steve Scalise.
Magazine: Crypto has 4 years to grow so big ‘no one can shut it down’: Kain Warwick, Infinex
