Trump’s AI and crypto czar says crypto and traditional banks will become ‘one industry’

A U.S. spokesman for White House crypto and AI advisor David Sacks said U-house crypto was in the news at the time. S. Eventually, banks will adopt cryptocurrencies (especially stablecoins) when new legislation changes how the sector is controlled.

Sacks said the divide between banks and crypto firms will vanish after Congress passes market structure rules currently in development.

I don’t think we’re going to have a banking industry and crypto industry. In a CNBC interview, he said ‘It’s going to be one digital assets industry.

Sacks’ comments reflect the Trump administration’s belief that its legislative push will further unlock institutional participation in crypto markets.

There are many major U.S. s in numerous ways, including the one that is most important to me. A , S. banks have long been on the margins of their lines, wary of ambiguous rules and regulatory risks. After the GENIUS Act was passed in July 2025, institutional adoption increased. The intent of its policy is to regulate stablecoins, and now lawmakers are working on a major bill that seeks to define how federal regulators can control cryptocurrency markets.

Those efforts have been focused on the prospect of competition between cryptocurrency market players and traditional banks over stablecoin yield that has led to negotiations between both industries regarding legislation related to crypto market structure, which is currently under consideration in Congress.

Historically, Stablecoins (cryptocurrencies that were coined to the value of fiat currencies and commodities) may be an asset for traditional banks. Sacks said these institutions may “look to see stablecoin issuance as an opportunity for yield-oriented offering and competing with fintech companies.”

But he said ‘I bet you over time the banks like paying yield because they’re going to be in the stablecoin business. Banking industry at large have lobbied against the idea of companies offering stablecoin yield or rewards in ongoing negotiations over the market structure bill bill.

Sacks did admit to concerns from banks about unrequited oversight, with crypto companies often subject to lighter rules. he said ‘Everyone who is offering the same product should be controlled exactly in the way it does, and that’s what we do.

Sacks said the next bill, a law that will seek balance in its future, would be “the most ambitious thing to do,” Sarks says. He added ‘A good compromise makes everyone very unhappy.

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