Trump’s crypto czar David Sacks says banks will fully embrace crypto once market structure bill passes

David Sacks, identified as the White House AI and Crypto Czar, stated in a CNBC interview that banks will fully embrace the crypto industry once market structure legislation passes, leading to a single digital assets industry rather than separate banking and crypto sectors. Sacks urged both the crypto industry and banks to compromise on the contentious stablecoin yield issue to ensure a market structure bill reaches President Trump. He warned banks that if the bill fails, they will lose the debate on stablecoin yield under existing law, suggesting it is in their interest to settle. Sacks also noted that regulatory parity is a goal, stating that anyone offering the same product should face the same regulation. He compared the current legislative struggle to past difficult bills, suggesting that a good compromise means everyone is slightly dissatisfied.

(Source：Crypto Briefing)