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crypto.news 2025-01-24 18:18:21

US Congressmen back Trump’s crypto, AI orders

Representatives French Hill and Bryan Steil have voiced strong support for President Trump’s recent executive orders advancing digital assets and artificial intelligence Hill is the Chair of the House Financial Services Committee, and Steil is the Chair of the Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee. The executive orders , signed on January 23, reaffirm Trump’s commitment to ensuring U.S. dominance in these technologies. They established the President’s Working Group on Digital Asset Markets, aimed at fostering collaboration between Congress, regulatory agencies, and key stakeholders to develop a functional regulatory framework. Hill and Steil praised the move, stating, “We applaud President Trump for taking important steps to ensure America remains a leader in digital financial technology on the international stage. The President’s Working Group will strengthen U.S. leadership and allow for critical collaboration to get this right.” NEW: Chairman @RepFrenchHill and @RepBryanSteil : “As leaders of this Committee on digital assets, we look forward to working with the Trump Administration as we coordinate on crafting legislation to provide much needed clarity and protections for consumers and investors while… — Financial Services GOP (@FinancialCmte) January 24, 2025 The congressmen emphasized their efforts to counteract the regulatory approach of former SEC Chair Gary Gensler , which they described as harmful to the digital asset ecosystem. They also highlighted their opposition to a U.S.-issued Central Bank Digital Currency, citing privacy concerns, while advocating for private-sector innovation in dollar-backed stablecoins. You might also like: Real estate firm Propy unveils BTC-backed mortgage service