Crypto Caucus: The Unlikely Alliance of House Republicans and Democrats!

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In a twist that could only be described as a cosmic joke, House Republicans and Democrats have decided to join forces, forming the Congressional Crypto Caucus. Yes, you heard that right! A bipartisan voting bloc dedicated to advancing crypto-friendly policies and digital asset legislation. It’s like watching cats and dogs become best friends, only with more spreadsheets and fewer furballs.

This newly minted caucus in the U.S. House of Representatives was announced on March 3 by House Majority Whip Tom Emmer and Rep. Ritchie Torres (Democrat, New York). Apparently, they’ve decided that the best way to tackle the complexities of digital assets is to throw a bipartisan party and hope for the best. 🎉

Millions of American voters made their voices heard at the ballot box in November.

You elected the most pro-crypto Congress and Presidential Administration in history. To capitalize on this opportunity, @RepRitchie and I have launched the Congressional Crypto Caucus.

— Tom Emmer (@GOPMajorityWhip) March 3, 2025

Congressman Emmer, in a moment of clarity, stated that the caucus was created in response to millions of voters prioritizing crypto-friendly candidates in the November 2024 elections. Who knew that the fate of digital currency could hinge on a few ballots and a lot of wishful thinking?

“This Caucus serves as an ideologically unified, nonpartisan group of members that can quickly mobilize to support key digital asset initiatives in Congress.”

Emmer said.

Torres, echoing the sentiments of a thousand confused onlookers, emphasized that the caucus will play a key role in shaping crypto legislation. Because, of course, what could possibly go wrong when you mix politics and cryptocurrency?

Excited to announce that today, @GOPMajorityWhip and I are launching the Congressional Crypto Caucus.

We hope to build a unified, bipartisan coalition to cement America’s leadership in the future of digital assets and blockchain innovation.

— Rep. Ritchie Torres (@RepRitchie) March 3, 2025

Crypto regulation gains momentum in Congress

Unlike previous efforts that fizzled out faster than a soda left open overnight, this new bipartisan caucus will operate as a voting bloc to advance crypto legislation already in progress. Two bills focused on stablecoin regulations have been introduced in the House, with lawmakers currently gathering industry input. Because nothing says “we know what we’re doing” like asking the industry for advice!

In the Senate, the Banking Committee, led by Sen. Tim Scott (Republican, South Carolina), is aiming for an April deadline to pass both stablecoin and market structure bills. According to Terrett, the GENIUS Act, introduced by Sen. Bill Hagerty (Republican, Tennessee), could see a markup hearing as early as next week. Yes, because nothing screams genius like a last-minute rush!

This comes as the White House announced it will be hosting its first-ever Crypto Summit on March 7. Topping that, on Mar. 2, President Donald J. Trump, according to a crypto.news report, following up on his Executive Order on Digital Assets, directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA), and Solana (SOL). Because if you’re going to have a strategic reserve, why not throw in a few cryptocurrencies for good measure?

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2025-03-03 21:53