"Congress Launches Crypto Caucus: A New Era for Digital Assets"

The U.S. Congress is set to launch a bipartisan 'Congressional Crypto Caucus,' a move aimed at promoting crypto-friendly policies in the House of Representatives. The initiative is spearheaded by Congressmen Ritchie Torres and Tom Emmer, who announced the news on March 3.

The Congressional Crypto Caucus builds upon the foundation laid by the 'Congressional Blockchain Caucus,' a bipartisan group established during the latter years of the Obama presidency with the goal of understanding blockchain technology. Unlike its predecessor, the new caucus will function more as a voting bloc, mobilizing support for digital asset legislation currently under consideration in the House, including stablecoin and market structure bills.

The House of Representatives is currently weighing a draft bill that would establish a regulatory framework for dollar-based stablecoins in the United States. US Representatives French Hill and Bryan Steil introduced the bill on February 7, while Maxine Waters has also called for support of a stablecoin bill to be introduced in 2024.

Both Torres and Emmer have a history of supporting the crypto industry. Torres has advocated for digital assets, posting on X about the FIT21 bill after voting in favor of it. Emmer, the House majority whip and vice chairman of the Digital Assets Subcommittee, has expressed his support for the crypto industry, stating that with President Trump in the White House, there is an opportunity to ensure that the future of digital assets is guided by Americans, with American values.

The launch of the bipartisan Congressional Crypto Caucus comes as more tailwinds for crypto emerge from Washington. On March 2, President Donald Trump announced that his Working Group on Digital Assets had been directed to include Bitcoin (BTC), Ether (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA) in the US strategic crypto reserve. Trump will host the first White House Crypto Summit on March 7.