In an interview with Fox Business, the new cryptocurrency czar, David Sacks, praised President Donald Trump's executive order on cryptocurrencies. The order aims to clarify regulations, define digital assets, and strengthen the dominance of the U.S. dollar through stablecoins. According to Sacks, the newly formed Digital Asset Task Force will oversee regulatory developments. It will divide digital assets into categories such as securities, commodities and collectibles. The government also seeks to expand the use of stablecoins, arguing that it can boost demand for US Treasuries. Sachs believes this strategy can support Treasuries and lower long-term interest rates.