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Rep. Bryan Steil to Chair House Subcommittee on Digital Assets, Advocates for Clear Crypto Rules
Rep. Bryan Steil, a Republican Representative from Wisconsin, has been appointed to chair the House’s Subcommittee on Digital Assets, a key Congressional body shaping blockchain policy and digital asset regulation. The announcement was made by Rep. French Hill, who will lead the House Financial Services Committee.
Clear Regulatory Framework for Digital Assets
According to Rep. Hill, the House Committee and its subcommittees, led by Rep. Steil and other Republicans, will focus on creating a regulatory framework for digital assets to protect U.S. investors and support America-based technological innovation.
Rep. Steil has expressed his enthusiasm for his new role, stating,
Excited to serve as the Chairman of the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence. I’m ready to get to work!
Criticism of Current Digital Asset Policy
Reps. Hill and Steil have been critical of agencies like the Securities and Exchange Commission (SEC) and its outgoing chair, Gary Gensler, for their handling of digital asset policy. Gensler announced his resignation on January 20, and President Trump has selected pro-crypto Paul Atkins as his replacement, pending Senate approval.
Some of the key issues Rep. Steil and the Subcommittee on Digital Assets will address include:
- Crypto oversight: Defining the regulatory powers and responsibilities of various agencies in the digital asset space.
- Stablecoin regulation: Establishing clear guidelines for the regulation of U.S. dollar-pegged tokens nationally.
The House Financial Services Committee and its Subcommittee on Digital Assets play a crucial role in shaping crypto policy, making Rep. Steil’s new position a key factor in the ongoing debate on digital asset regulation.
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