David Sacks says banks and crypto will merge into one industry
The White House AI and Crypto Czar, David Sacks, shared his belief that a point will come when banks and crypto firms will join forces to form a single digital asset industry. According to him, this move will be observed as soon as the long-awaited market structure bill receives a go-ahead from Congress.
Sacks released this statement during an interview on CNBC’s Squawk Box. Notably, this interview coincided with the World Economic Forum (WEF) in Davos, Switzerland, which was held on Wednesday, January 21.
Sacks’ comments come as banks have launched a last-minute lobbying push to protect their margins and limit competition by blocking crypto from replicating their business model. They are attempting to insert new language…
