'Banks Are Going To Get Fully Into Crypto:' David Sacks Predicts Unified Digital Assets Industry

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David Sacks, the Trump administration's AI and crypto czar, has predicted that banks volition go afloat progressive successful the crypto industry, paving the mode for a unified integer assets sector.

The prediction comes arsenic authorities connected crypto marketplace structures stalls implicit whether third-party platforms tin connection rewards programs to stablecoin users. Banks reason specified programs bypass output restrictions, portion crypto firms support them arsenic indispensable gross features for decentralized finance.

In an interrogation with CNBC’s Squawk Box, Sacks discussed the ongoing statement implicit stablecoin regularisation successful the U.S.

"The banks are going to get afloat into the crypto industry. So we're not going to person a abstracted banking manufacture and crypto industry. It's going to beryllium 1 integer assets industry," Sacks said.

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He besides emphasized the request for a compromise to guarantee the transition of a marketplace operation bill, expressing his enactment for a solution and urging some parties to see the bigger picture.

“I’m successful favour of reaching a solution and facilitating a compromise truthful that we tin get a measure for marketplace operation connected the president’s desk.”

When asked astir a imaginable compromise, Sacks noted that banks indispensable admit that output is already a diagnostic of the Genius Act, signed into instrumentality successful August.

He further added that banks volition yet enactment offering output payments erstwhile they participate the stablecoin business.

President Donald Trump has besides expressed enactment for the marketplace operation authorities during his Wednesday code astatine the World Economic Forum successful Switzerland.

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Sacks’ prediction aligns with the views of different manufacture leaders.

Monica Long, president of Ripple (CRYPTO: XRP), predicted that by the extremity of 2026, fractional of the Fortune 500 companies volition person ceremonial crypto strategies successful place, with stablecoins becoming the modular for planetary payments.

Meanwhile, Mike Novogratz, CEO of Galaxy Digital Inc. (NASDAQ: GLXY) has besides stated that the crypto manufacture volition person to compromise connected the arguable stablecoin rewards clause successful the marketplace operation bill, suggesting that the manufacture volition yet person to find communal crushed with the banking lobby.