Trump Aide Sacks Seeks CBDC Ban and Tighter AI-Chip Curbs on China

David Sacks, President Donald Trump’s recently appointed adviser overseeing artificial intelligence and cryptocurrency policy, said the administration intends to prohibit a U.S. central-bank digital currency, arguing such a product would give the federal government excessive control over private payments. Speaking in a CNBC interview on 15 July, Sacks added that traditional networks such as Visa and Mastercard would be more comfortable operating with privately issued, dollar-backed stablecoins. Turning to technology trade, Sacks urged tighter limits on the export of the United States’ most advanced semiconductors to China, contending that selling top-tier artificial-intelligence chips undermines national security and strengthens Chinese rivals. He warned that existing restrictions are already spurring demand for Huawei Technologies’ processors and said Washington should aim to capture market share from the Shenzhen-based company. Sacks confirmed that Nvidia’s planned sales of its H20 AI accelerators to Chinese customers remain part of broader negotiations between the government and the company. While he described Nvidia Chief Executive Officer Jensen Huang as a persuasive advocate for continued shipments, Sacks maintained that any easing of curbs must ensure the domestic development of AI systems “on an American tech stack.”