banner

Trump’s Digital Asset Orders Gain Strong Lawmaker Support

Key lawmakers are backing President Donald Trump’s bold stance on digital assets, signaling a major shift in U.S. financial policy and innovation leadership.

Lawmakers Applaud Digital Asset Orders

House Financial Services Committee Chairman French Hill and Digital Assets Subcommittee Chairman Bryan Steil have voiced strong support for President Trump’s recent executive orders on digital financial technology. In a joint statement on January 24, they praised the administration’s efforts to keep the U.S. at the forefront of the global digital asset sector.

https://twitter.com/RepBryanSteil/status/1881803971905585523

Hill and Steil highlighted the formation of the President’s Working Group on Digital Asset Markets, emphasizing its role in fostering collaboration among Congress, government officials, and regulatory agencies. This initiative aims to develop effective policies that support innovation while ensuring consumer protection.

Criticism of Past Regulatory Approaches

Reflecting on past regulatory challenges, Hill and Steil criticized the enforcement-driven approach of former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler. They argued that Gensler’s stringent enforcement actions harmed the digital asset ecosystem, prompting them to push for meaningful legislation that provides a clear regulatory framework.

They emphasized the need to replace punitive measures with supportive regulations to promote innovation while safeguarding investors.

Stance Against Central Bank Digital Currency (CBDC)

The lawmakers reaffirmed their opposition to the creation of a central bank digital currency (CBDC) in the U.S. They believe a CBDC could pose risks to financial privacy and have pledged to prevent its implementation.

Praising President Trump’s commitment to protecting financial privacy, Hill and Steil stated: “President Trump’s Executive Order confirms our shared goal of safeguarding Americans’ financial information.”

Looking Forward: A Collaborative Effort

Hill and Steil expressed optimism about collaborating with the Trump administration to develop a comprehensive legislative framework for digital assets. They are committed to ensuring the U.S. remains a leader in digital financial innovation while providing necessary consumer protections.

“As leaders in digital asset policy, we are eager to work with the administration to craft legislation that delivers clarity and security for consumers and investors,” they stated.

banner

Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

Follow Us

Top Selling Multipurpose WP Theme

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

banner

Crypto feed news

Our team of crypto enthusiasts and market mavens is on a mission to deliver the latest, juiciest, and most insightful updates from the ever-evolving world of cryptocurrencies.

@CryptoFeedNews 2023 All Right Reserved. Designed and Developed by TheDevThingz

Social Media Auto Publish Powered By : XYZScripts.com
Skip to content