David Sacks, the White House's cryptocurrency czar, stated that his top priority is developing stablecoin legislation.

David-Sacks, the White House's AI and crypto czar, is collaborating with lawmakers to create regulations for digital assets, with a particular focus on stablecoins. In an interview with CNBC, he shared that passing legislation in both the House and Senate this year is a top priority to establish a clear regulatory framework for the digital assets ecosystem and support innovation in the U.S. He believes this could be accomplished within the next six months, despite the challenges of moving legislation through Congress.

Earlier, Sacks participated in a press conference alongside leaders from the House and Senate banking committees, discussing early crypto policy objectives with the SEC's involvement. The event highlighted their next steps in digital currency regulations, with key figures from Washington and the Trump White House present.

Sacks expressed his excitement about working with lawmakers to create a "golden age in digital assets" and was joined by Sen. Tim Scott, Rep. French Hill, and Sen. John Boozman. They emphasized that their first priority is advancing a stablecoin bill introduced by Sen. Bill Hagerty, which aims to establish clear regulatory guidelines for stablecoins — cryptocurrencies pegged to assets like the U.S. dollar.

Stablecoins are becoming more popular globally, and U.S. lawmakers are pushing for stablecoin issuance in the U.S. to strengthen the dollar’s dominance in digital finance. Supporters like Sacks argue that this move could generate significant demand for the dollar and reduce long-term interest rates.

Sacks also revealed that evaluating the feasibility of a bitcoin reserve is on his task force's agenda, an idea proposed by President Donald Trump during his campaign. While they have not committed to it yet, the task force is considering it as part of their initial focus.

Additionally, the SEC has shifted its stance on crypto regulation under new leadership, announcing that it will open discussions with interested parties to create clearer and more predictable regulations. SEC Commissioner Hester Peirce, leading the newly created Crypto Task Force, outlined priorities such as clarifying which crypto assets fall under securities laws, providing a pathway for token issuers to gain regulatory approval, and ensuring compliance doesn’t stifle innovation.

The SEC also welcomes public input on its efforts, encouraging written feedback and meetings with the task force to shape the regulatory framework.

Sacks' involvement in the press conference marked his first major policy event since his appointment in December. While he does not directly control regulatory agencies or congressional funding, his connections to the White House and Elon Musk position him as an influential figure in the administration.