Catenaa, Thursday, February 06, 2025 – US lawmakers announced Tuesday the formation of a bipartisan working group to draft regulations for digital assets and stablecoins, aiming to establish a clear federal framework for the crypto industry.
Led by key members from Senate and House committees, the group includes Senate Banking Committee Chair Tim Scott (R-S.C.), Senate Agriculture Committee Chair John Boozman (R-Ark.), House Financial Services Committee Chair French Hill (R-Ark.), and House Agriculture Committee Chair G.T. Thompson (R-Pa.).
The initiative comes as Sen. Bill Hagerty (R-Tenn.) introduced a bill to set regulatory guidelines for stablecoin issuers at both the state and federal levels.
Hill stated that future crypto market regulations would closely resemble the Financial Innovation and Technology for the 21st Century Act (FIT21), which grants expanded oversight to the Commodity Futures Trading Commission (CFTC).
The White House has also taken an active role, with Crypto Czar David Sacks overseeing efforts to develop a national digital assets strategy, including a potential “strategic national digital assets stockpile.”
The move reflects the Trump administration’s pro-crypto stance, as President Donald Trump previously pledged to position the US as a global leader in digital assets. Lawmakers are expected to introduce new legislation in the coming months.
