Representative Bryan Steil from the Republican party has advocated for straightforward regulations concerning cryptocurrencies, as he prepares to lead the House’s Subcommittee on Digital Assets – a crucial congressional body responsible for formulating blockchain policy.
As a researcher, I recently discovered that I was included in a list of fresh House leadership, which was publicly announced by Representative French Hill. Notably, he was elected to lead the entire House Financial Services Committee during the tenure of former President Donald Trump.
On Thursday, January 9th, Hill made a statement indicating that the House Committee and its respective subcommittees, under the leadership of Representative Bryan Steil and other Republican members, intend to develop a regulatory framework for digital assets. This framework is aimed at safeguarding U.S. investors and fostering technological innovation within American borders.
Representatives Hill and Steil have voiced disapproval towards organizations such as the Securities and Exchange Commission (SEC) and its outgoing head, Gary Gensler, over their perceived shortcomings in digital asset regulation. On January 20, which coincidentally was also the day of Donald Trump’s inauguration, Gensler announced his resignation. Trump has proposed Paul Atkins, a supporter of cryptocurrencies, as Gensler’s successor, subject to Senate confirmation.
Bryan Steil and French Hill have advocated for cryptocurrency legislation within the House’s digital assets subcommittee, such as FIT21, which aims to establish guidelines for crypto regulation and make regulatory powers more clear. Additionally, Steil has cast a vote in favor of a bill aimed at regulating stablecoins that are tied to the U.S. dollar on a national level.
In shaping cryptocurrency policies, the House Financial Services Committee and its subcommittee on digital assets have become key players, positioning Representative Steil at the forefront of discussions that have been extensively debated over the past few months and years.
Thrilled to take up the role as Chair for the Subcommittee dedicated to Digital Assets, Financial Technology, and Artificial Intelligence. Let’s dive right into the tasks at hand!
— Bryan Steil (@RepBryanSteil) January 9, 2025
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2025-01-10 00:03