- A U.S. joint House-Senate working group is advancing crypto legislation, led by Trump’s crypto czar, David Sacks.
- Senator Hagerty introduced a stablecoin bill splitting regulatory oversight between state and federal agencies.
- Lawmakers plan to push market structure legislation alongside stablecoin regulation to retain digital innovation in the U.S.
The U.S. House and Senate have announced the creation of a joint working group aimed at advancing cryptocurrency legislation. At a press conference on Tuesday, President Trump’s newly appointed crypto czar, David Sacks, emphasized that his mission is to “ensure American dominance in digital assets.”
“We’re setting the stage for a golden age in digital assets,” Sacks declared, describing crypto as a “week-one priority” for the administration. Standing alongside key lawmakers, Sacks outlined an agenda to keep digital innovation onshore and secure the U.S.’s role as a global leader in the crypto economy.
Stablecoin Oversight Takes Priority
Part of this plan surfaced earlier on Tuesday with the reveal of a Senate stablecoin bill. Senator Bill Hagerty’s proposal would establish oversight for stablecoin issuers, dividing regulatory authority between state agencies and federal bodies, including the Federal Reserve and the Office of the Comptroller of the Currency.
Senator Tim Scott, the new chairman of the Senate Banking Committee, confirmed that stablecoin regulation would be the first item on the panel’s agenda. The push comes amid increasing pressure to provide clear rules for digital assets.
Market Structure Legislation
In addition to stablecoin oversight, lawmakers plan to address broader market structure legislation. Representatives French Hill and Glenn “GT” Thompson, along with Senator John Boozman, said that a bill resembling last year’s Financial Innovation and Technology for the 21st Century Act (FIT21) would move forward.
Sacks emphasized the importance of retaining innovation within U.S. borders. “Financial assets are destined to go digital, like every other analog industry. We want that value creation to happen here in the U.S., not overseas,” he explained.
With lawmakers and regulators united in this effort, the groundwork for a comprehensive crypto policy framework appears to be taking shape.
