The Crypto industry was given a chance to submit a full neck appeal to Congress to finally intervene and set legal standards for digital assets in the United States during a consultation on Tuesday in front of the Representan House subcommittee that focuses on digital assets.

Under the Republican-led sub-committee’s title “A Golden Age of Digital Assets,” the industry’s representatives emerged in the hearing with momentum at all levels of the federal government, including from the White House, whose crypto-czar was the one who first states the phrase of “Golden Age”. Just over two years after the destruction of collapsing crypto-lenders and the criminal implosion of the FTX by 2022, the industry has proven its sharp improvement with a slate of legislators clearly aboard the legislation that the industry has called for.

“Under the Trump administration, of course, we will be correct by creating a useful path for responsible digital asset companies to set up operations here in the United States,” said Bryan Steel representative, a Wisconsin Republican, chair of the subcommittee, an offshoot of house Financial Services Committee.

Republicans on the panel decorated the “unpredictable and hostile approach” to the crypto of former President Joe Bid’s administration (as Steil put it), with a performing branch that already turns some of these previous policies at Federal Deposit Insurance Corp. and the securities and securities Exchange Commission. But the holy grail for the industry is a far -reaching bill such as the one adopted in parliament in the previous congressional meeting.

“There are many questions that need to be discussed over the next several years, but we have to move now and put the basic foundation in place,” said Jonathan Jachym, a lawyer and the global police director at the US Exchange Kraken.

Among the witnesses of the consultation was Timothy Massad, a former President of the Commodity Futures Trading Commission when it first marked Bitcoin (BTC) as a product. He warned the legislators not to push too hard into the details as they create their digital assets market structure legislation because he said that CFTC and SEC are more expert in the detailed details and the agency leaders should be the ones to find out the technical aspects .

This was the first consultation of the digital assets panel during this new congress, but other committees in both chambers have already been digging into crypto-heavy questions such as degradation. Earlier on Tuesday, Federal Reserve President Jerome Powell agreed that Debanking is a problem worth exploring, and he also agreed that Fed would not chase a central bank’s digital currency on his watch.

While Republicans and the industry are witnessing to base the Biden -Administration Track Record, DEM took the opportunity to criticize President Donald Trump for embracing crypto for his personal gain by supporting Memecoin $ Trump, as they characterized as a “crypto -fidus”, who presents a dangerous conflict and can violate the constitutional provision against federal officials seeking profits from their office.