Washington, DC – The House of Representatives of the United States and the Senate form a joint working group to advance the legislation on cryptography, and David Sacks, the Crypto Tsar appointed by President Donald Trump, said that his goal ” provided American domination in digital assets “in an appearance on Tuesday at a joint press conference in Washington.
Alongside the chiefs of the Congress Committees who will work on digital asset legislation, the bags have presented a large Pro-Crypto program.
“I can’t wait to work with each of you in creating a golden age in digital assets,” he said, calling Crypto a “priority during the administration”.
Part of the plan has already been revealed earlier Tuesday, when the details of a Stablecoin bill in the Senate emerged. Senator Bill Hagerty, a Tennessee republican, wrote a bill to set up American surveillance of stablecoin issuers, dividing the regulations between state agencies and federal guard dogs – in particular the federal reserve and the office of the currency controller.
Tim Scott, the Southern Carolina Republican who now chairs the Senate banking committee, said the panel would first occupy stablecoins.
The legislators, who included the president of the Chamber’s Financial Services Committee, the Chairman of the Chamber’s Agriculture Committee, Glenn “GT” Thompson and the Chairman of the Senate Agriculture Committee, John Boozman, also Declared that the legislation on the structure of the market would be referred, referring to the adoption at the Chamber of Financial Innovation from last year and the technology for the law of the 21st century (Fit21).
Hill said that a bill similar to FIT21 would advance alongside a house on house bill.
“We want to keep this innovation on land in American financial assets intended to become digital, just as each analog industry has become digital, and we want this creation of value to the United States, rather than giving it to Other countries, “Sacks declared at the press conference, his first since his workplace and Czar Crypto.
Update (February 4, 2025, 20:17 UTC): Add additional details.
