Washington, DC – The US Representative House and Senate form a joint working group to promote crypto rejection, and David Sacks, Krypto -Czaren appointed by President Donald Trump said his goal is “to secure American domination in digital assets” in An appearance Tuesday at a joint press conference in Washington.
Alongside the heads of the congress committees, who will work on digital assets legislation, Sacks laid out a wide pro-crrypto agenda.
“I look forward to working with each of you in creating a golden age in digital assets,” he said, calling Krypto a “week’s priority for the administration.”
Part of the plan was already revealed earlier on Tuesday when details of a Senate StableCoin Law Proposal appeared. Senator Bill Hagty, a Tennessee Republican, wrote a bill to create US oversight of stableco -issuers who divide regulation between state agencies and federal watchdogs – specifically the Federal Reserve and the Currency of the Currency Office.
Tim Scott, South Carolina Republican, now chairman of the Senate Bank Committee, said the panel would take stablecoins first.
The legislators who included chairman of the House Financial Services Committee, chairman French Hill, chairman of the house’s agricultural committee Glenn “GT” Thompson and Senate Agricultural Committee John Boozman, also said that market structure legislation would come up and refer back to last year’s house’s passage of financial innovation and technology for the 21st century law (Fit21).
Hill said that a bill similar to Fit21 would move on with a stableecoin bill in parliament.
“We will keep that innovation on land in US financial assets is destined to become digital, just as any analog industry has become digital, and we want that value creation to happen in the United States, rather than giving it away to other countries , ”Sacks said at the press conference, his first since taking the job of AI and Crypto Czar.
Update (February 4, 2025, 20:17 UTC): Adding additional details.