David Sacks, an advisor on cryptocurrency and AI at the White House, expressed that U.S. banks are likely to embrace cryptocurrencies, particularly stablecoins, once new regulations redefine how the industry operates.
He indicated that the existing gap between banks and cryptocurrency companies will close following the passage of market structure legislation that is presently in the works in Congress.
“We aren’t going to maintain two separate industries for banking and crypto. It will evolve into a unified digital assets sector,” he stated during a CNBC interview.
These remarks align with the Trump administration’s view that its legislative initiatives will enhance institutional engagement in cryptocurrency markets.
Historically, many large U.S. banks have taken a cautious approach, hesitant to engage due to ambiguous regulations and associated risks. However, institutional interest surged after the passage of the GENIUS Act in July 2025, which aims to regulate stablecoins. Currently, lawmakers are drafting a significant bill to clarify how federal authorities can supervise cryptocurrency markets.
This legislative initiative has sparked discussions regarding the competition between traditional banks and cryptocurrency firms, particularly concerning stablecoin yields, resulting in tensions during the ongoing negotiations over crypto market structure legislation before Congress.