U.S. Senate and House lawmakers are joining forces to establish a regulatory framework for digital assets, aiming to solidify America’s position as a global leader in the industry. The initiative is led by Senate Banking Committee Chairman Tim Scott (R-SC), Senate Agriculture Committee Chairman John Boozman (R-AR), House Financial Services Committee Chairman French Hill (R-AR), and House Agriculture Committee Chairman G.T. Thompson (R-PA), with the support of President Donald Trump’s White House A.I. and Crypto Czar David Sacks. The objective is to develop a unified regulatory approach that promotes domestic innovation and ensures the U.S. remains at the forefront of the digital assets sector.
The Senate Committee on Banking, Housing, and Urban Affairs announced the creation of a bicameral working group focused on digital assets. The group, consisting of members from the Senate Banking Committee, House Financial Services Committee, and Senate and House Agriculture Committees, aims to build consensus on a regulatory framework for digital assets that encourages innovation within the United States. The group’s members are committed to crafting policies that drive technological advancements while safeguarding investor protections. They believe that digital assets have the potential to enhance financial inclusivity and boost economic participation. By collaborating across key congressional committees, the initiative aims to develop a cohesive strategy rather than a fragmented set of regulations that could impede industry growth. Lawmakers leading the effort stress the importance of regulatory clarity in maintaining America’s global position in digital finance.
Scott highlights the collaborative nature of the initiative and the shared commitment to addressing the challenges of financial accessibility. He emphasizes the group’s focus on working class Americans who are in need of lower prices and increased access to financial services. The congressman expresses confidence in the working group’s ability to develop effective policies that promote innovation while protecting consumers.
