U.S. President-elect Donald Trump on Thursday said he was appointing former PayPal (PYPL.O), opens new tab Chief Operating Officer David Sacks as his “White House A.I. & Crypto Czar,” another step towards overhauling U.S. policy.

“He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S.,” Trump said in a post on his social-media site Truth Social.