U.S. lawmakers alongside Trump’s Crypto Czar, David Sacks are working to bring about a Golden Age for digital assets, such as cryptocurrencies, in America. Sacks appeared at a press conference on Capitol Hill where he was appointed by President Trump to the role of crypto and AI czar and shared the administration’s vision for making America a leader in digital finance.
Key members of Congress also joined Sacks, including the heads of House and Senate committees. However, they laid out a plan to clear up rules concerning cryptocurrencies, by addressing things such as stablecoins, a type of digital currency with a stable value. Instead, Sacks said the goal is to create a clear and safe regulatory framework for these digital assets that allows businesses to grow in America rather than abroad.
The plan’s one key part includes the Senate’s new stablecoin bill that will share the oversight of stablecoins with specific federal regulators, such as the Federal Reserve, as well as state regulators. This will enhance the stability in the market as well as foster innovations in the US.
Just like other industries have become digital, Sacks noted that digital assets are the future of finance. He said, “We want to keep that innovation onshore in the U.S. Financial assets are destined to become digital, just like every analog industry has become digital, and we want that value creation to happen in the United States, rather than giving it away to other countries.”
The lawmakers intend to move fast. Today, the priorities of Senate and House committees for crypto legislation work together. Soon, they will introduce their bills on stablecoins and market structure to assure that America will remain at the forefront of digital finance.
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