Republican lawmakers in the House and Senate have formed a bicameral working group focused on developing legislation regarding digital asset frameworks and stablecoins. Announced during a press conference on February 4, 2025, the group involves representatives from the House Financial Services Committee, House Agriculture Committee, Senate Banking Committee, and Senate Agriculture Committee. Arkansas Representative French Hill emphasized the importance of not falling behind in financial technology and digital assets. This initiative is distinct from a separate working group connected to a January 23 executive order from former President Donald Trump, which sought to prohibit a central bank digital currency and analyze the creation of a national crypto stockpile. Legislative efforts from the last Congress, specifically the Financial Innovation and Technology for the 21st Century Act, will be revisited, and lawmakers plan to reintroduce this bill with some amendments. Additionally, discussions on a comparable stablecoin bill announced by Senator Bill Hagerty were noted, with David Sacks, Trump's AI and crypto czar, commenting on the examination of a strategic Bitcoin reserve as part of the executive order's agenda.

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