Republican lawmakers have formed a bicameral working group to push for clear crypto regulations, focusing on stablecoins and market structures.
On February 4, Republican lawmakers announced the formation of a bicameral working group aimed at setting clear regulatory frameworks for stablecoins and digital asset market structures.
A group made up of members from important House and Senate committees is working to clarify the current confusion about crypto laws.
A group led by Representative French Hill and Senators Tim Scott and John Boozman will continue earlier legislative work, including the 2024 Financial Innovation and Technology for the 21st Century Act (FIT21) and a new stablecoin bill proposed by Senator Bill Hagerty.
The group wants to pass crypto laws in the Senate within the first 100 days of the session, and they are talking about getting backing from both political parties.
During a news conference on Capitol Hill, David Sacks, who is in charge of cryptocurrency for Trump, talked about his idea for a “golden age” for crypto in the United States.
Sacks is also in charge of a White House project looking into the idea of the government having a Bitcoin reserve, following an executive order from Trump in January.
The crypto business, often held back by unclear rules, has been moving more of its work to other countries. If it works well, this group may give the business the clear answers it has been looking for.
