U.S. Lawmakers Form Joint Group to Advance Crypto Legislation
The U.S. House of Representatives and Senate are establishing a joint working group to advance crypto legislation. David Sacks, appointed by former President Trump, emphasized the goal of maintaining American leadership in digital assets during a press conference.
Key points from the event include:
- Sacks described crypto as a top priority for the administration.
- A Senate stablecoin bill was introduced by Senator Bill Hagerty, proposing oversight of stablecoin issuers through both state and federal regulations.
- Senate Banking Committee Chair Tim Scott confirmed that stablecoins will be addressed first.
- House Financial Services Committee Chair French Hill announced that legislation similar to last year's FIT21 will progress alongside the stablecoin bill in the House.
- Sacks affirmed the intention to keep financial innovation within the U.S. and support the transition of financial assets to digital formats.