05.02.2025 15:02
High-ranking officials from the House of Representatives and the Senate in the United States have taken a significant step towards cryptocurrency and stablecoin regulations. An team formed under the leadership of David Sacks, the White House's Head of Artificial Intelligence and Cryptocurrency, will prepare a comprehensive regulatory framework for digital assets. Shaped by Trump's crypto-friendly approach, this initiative aims to make the U.S. a global cryptocurrency hub.
The cryptocurrency sector continues to experience significant developments. The stablecoin bill introduced by Senator Bill Hagerty clarifies the regulation of issuers by the federal government or states, while the FIT21 bill passed by the House of Representatives will shape the future of crypto assets.
The U.S. House of Representatives and Senate Will Shape the Cryptocurrency Sector
The U.S. cryptocurrency policy is progressing with concrete steps. French Hill, the Chairman of the House Financial Services Committee, emphasized that the future market structure bill will resemble FIT21 and has received support from both parties.
The stablecoin regulatory efforts led by former House Financial Services Committee Chairman Patrick McHenry since 2022 have gained a new dimension. The provision granting state regulators the authority to approve stablecoin issuances without the approval of the Federal Reserve (Fed) is at the center of discussions.
The Trump administration is addressing cryptocurrency policy with a strategic approach. President Trump's statements in August and the appointment of Paul Atkins as SEC chairman were concrete indicators of this approach. The working group led by David Sacks will also evaluate the establishment of a "strategic national digital asset reserve."