Why Congress Needs to Act on Digital Assets – Reps. French Hill and Bryan Steil
Rep. French Hill and Rep. Bryan Steil emphasize the urgent need for Congress to legislate digital assets and blockchain technology to ensure that the U.S. remains a leader in this field. They highlight that a significant portion of the American population supports President Trump's agenda, which includes leveraging the U.S.’s technological strengths. With over 40 million Americans owning digital assets, it is crucial to recognize the potential advantages these innovations bring, including lower financial costs and increased accessibility. They criticize the Biden Administration for its previous stance against this technology, leading to hindered growth and competition from other nations. The authors advocate for a clear regulatory framework balancing innovation, consumer protection, and security measures. They outline their goals for legislation that includes stablecoin regulations, clarity for token sales, and measures against money laundering. The recent bipartisan efforts in Congress signal a renewed commitment to fostering a vibrant digital asset ecosystem while maintaining the U.S. dollar’s global dominance. The authors declare the start of a new era for digital assets in the U.S.
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