Ah, the venerable halls of Congress, where wisdom and folly often dance an intricate waltz. It is here that Representatives French Hill and Bryan Steil emerged, like gallant knights, brandishing their swords of approval for none other than President Trump’s audacious foray into the uncharted waters of digital assets and artificial intelligence. One might whisper, is it bravery or mere folly? Ah, but these gentlemen relish their newfound titles!
Chair of the House Financial Services Committee, Hill, and Steil, proudly reigning as the Chair of the illustrious Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee, have pressed forth with fervent enthusiasm. Such titles do indeed suggest a gravitas that perhaps overshadows the absurdity of the situation.
On that fateful day of January 23, which shall be etched in history, the President signed orders that merely reaffirm his commitment to—dare we say—the grand American crusade for dominance in these bewildering technologies. But alas, what does that truly mean for the common man?
These executive edicts birthed the President’s Working Group on Digital Asset Markets. A romantic notion, is it not? A cozy gathering aimed at fostering “collaboration” between Congress and, heavens, regulatory agencies. One cannot help but chuckle at the thought of bureaucrats gathering to draft a “functional regulatory framework” like poets composing sonnets in the moonlight.
Hill and Steil, with earnest faces, extolled the virtues of this initiative: “We applaud President Trump for taking important steps to ensure America remains a leader in digital financial technology on the international stage.” Such glowing admiration! One might assume they have been struck by Cupid’s arrow. 🌹
NEW: Chairman @RepFrenchHill and @RepBryanSteil: “As leaders of this Committee on digital assets, we look forward to working with the Trump Administration as we coordinate on crafting legislation to provide much needed clarity and protections for consumers and investors while…
— Financial Services GOP (@FinancialCmte) January 24, 2025
The congressmen, in their zeal, proclaimed their noble crusade against the regulatory iron fist of former SEC Chair Gary Gensler, which they boldly deemed destructive to the flourishing digital asset ecosystem. Oh, the audacity! They railed against the idea of a U.S.-issued Central Bank Digital Currency, waving the flag of privacy concerns as they championed the innovation of dollar-backed stablecoins from the private sector. Truly, an irony wrapped in a paradox, delivered with a side of sarcasm! 🍔
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2025-01-24 21:33