U.S. Lawmakers Form Bipartisan Digital Assets Group, Aiming to Define Crypto Regulations

U.S. Lawmakers Launch Bipartisan Digital Assets Working Group, Plan Regulatory Framework

The U.S. government has taken a significant step towards creating clear regulations for digital assets with the formation of a new bipartisan congressional working group. Led by key lawmakers from both chambers of Congress and the Trump administration, the initiative aims to maintain U.S. leadership in digital innovation while ensuring consumer protection.

Senate Banking Committee Chairman Tim Scott (R-SC), Senate Agriculture Committee Chairman John Boozman (R-AR), House Financial Services Committee Chairman French Hill (R-AR), and House Agriculture Committee Chairman G.T. Thompson (R-PA) are leading the effort to create a comprehensive regulatory framework for cryptocurrencies and other digital assets.

David Sacks, appointed as the White House A.I. and Crypto Czar under the Trump administration, outlined the administration’s commitment to supporting digital asset growth. He referenced a recent executive order that established both a working group and its mandate to propose federal regulations governing digital assets and stablecoins.

The working group’s primary goal is to ensure that innovation in the digital asset space happens within the United States rather than overseas. This comes after what Sacks described as “four years of arbitrary prosecution and persecution of crypto companies” under the previous administration, where he said many founders faced unclear rules and even personal banking restrictions.

Representative French Hill emphasized that the United States should not fall behind in financial technology and digital assets. He stated that innovators need clear guidelines about regulatory requirements, prompting the formation of the cross-committee working group.

The initiative represents a coordinated effort between the Senate Banking Committee, House Financial Services Committee, and both chambers’ Agriculture Committees. This structure acknowledges the complex nature of digital assets and the need for oversight from multiple regulatory perspectives.

Senator Boozman addressed the varied nature of digital assets, noting that some qualify as commodities while others are securities. This distinction will help determine which regulatory agencies oversee different types of crypto assets.

Representative Thompson drew parallels between the current state of digital assets and previous phases of internet development. He characterized the current phase as “Internet 3.0” or the “Internet of value,” emphasizing America’s historical leadership in technological innovation.

The working group plans to prioritize consumer protection while fostering innovation in the cryptocurrency industry. Thompson stated that the opportunities in the