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The Defiant 2025-02-04 23:33:40

Crypto Czar David Sacks Says Stablecoin Bill and Bitcoin Reserve are Priorities

Crypto Czar David Sacks Says Stablecoin Bill and Bitcoin Reserve are Priorities

At a press conference in Washington today, House and Senate leaders joined by AI and Crypto Czar David Sacks said that a stablecoin bill is likely to be the first piece of crypto legislation to hit President Donald Trump’s desk, and that exploring a potential Bitcoin reserve is a priority. Sen. Bill Hagerty (R-Tenn.) introduced a stablecoin bill today. Sen. Tim Scott (R-S.C.), chair of the Senate Banking Committee, said he plans to try to move that bill through Congress before a larger crypto market structure bill. But he added that he hopes to have both on the President’s desk within the administration’s first 100 days. In part, he said, that could be possible because both pieces of legislation have had bipartisan support in the past session of Congress. Sen. Scott pointed out that the market structure bill being worked on in the Senate will be a bipartisan one continuing the work that Sen. Cynthia Lummis (R-Wyo.) and Sen. Kirsten Gillibrand (D-N.Y.) did in the Senate and the FIT 21 legislation that passed in a bipartisan vote in the House last year. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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