President Trump Receives Support from Key Lawmakers for Bold Move on Digital Assets
Lawmakers Commend Executive Orders on Digital Assets
Chairman of the House Financial Services Committee, French Hill, and Digital Assets Subcommittee Chairman, Bryan Steil, have commended President Donald Trump for his recent Executive Orders regarding digital financial technology. In a joint statement released on Jan. 24, the lawmakers lauded the administration’s dedication to upholding U.S. leadership in the global digital asset sector. They emphasized the significance of the newly formed President’s Working Group on Digital Asset Markets, highlighting its potential to promote cooperation among Congress, key officials, and agencies in formulating effective policies.
Reflecting on past struggles in regulating digital assets, Hill and Steil criticized the enforcement-centric approach of former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler. They remarked:
Former SEC Chair Gensler’s enforcement-focused tactics posed challenges for the digital asset ecosystem. We have been dedicated to combatting the agency’s detrimental actions and advocating for legislation that would establish a functional regulatory framework for digital assets.
The lawmakers stressed the importance of replacing punitive enforcement methods with transparent and supportive regulations that foster innovation while safeguarding consumers and investors.
Hill and Steil also reiterated their stance against the issuance of a central bank digital currency (CBDC) in the United States, citing concerns about its potential impact on financial privacy.
Applauding President Trump’s alignment with their objectives, they stated: “President Trump’s Executive Order reinforces our shared commitment to safeguarding the financial privacy of Americans.” Looking forward, Hill and Steil expressed optimism about collaborating closely with the administration to advance the legislative framework for digital assets. They said:
As leaders in the digital assets field, we eagerly anticipate collaborating with the Trump Administration to develop legislation that offers clarity and protections for consumers and investors, while positioning the United States as a pioneer in digital financial innovation.