Washington, Feb 4 (Reuters) - U.S. Representative French Hill, a Republican and chair of the House Financial Services Committee, announced on Tuesday that lawmakers from both chambers of Congress would collaborate to draft policies supporting the advancement of digital assets.
During a news conference on Capitol Hill, Hill emphasized that the new legislation aims to provide "clarity for a regulatory framework." He was joined by White House cryptocurrency and artificial intelligence head David Sacks, along with other legislators.
In January, U.S. President Donald Trump established a group of agency heads responsible for proposing new regulations on digital assets and examining the possibility of creating a national cryptocurrency reserve.
During his election campaign, Trump attracted support from cryptocurrency enthusiasts by pledging to foster the adoption of digital assets.
In contrast, former President Joe Biden's administration focused on safeguarding Americans from fraud and money laundering by cracking down on the industry. The administration targeted major players like Coinbase and Binance, accusing them of violating U.S. laws, a claim the companies have refuted.
Sacks highlighted that Trump has prioritized the examination of establishing a strategic crypto reserve within the executive branch. According to Sacks, We're still in the very early stages of this, but that's one of the first things we're going to look at.