Clear Regulation for Digital Assets Unveiled by US Lawmakers
Members of the Republican party have expressed their commitment to addressing the need for clear regulations in the digital asset industry. Representatives and Senators are working together to introduce bills aimed at bringing clarity to the use of stablecoins and establishing a comprehensive framework for the crypto market.
Senator Tim Scott (R-S.C.) outlined the aggressive approach they are taking, with the goal of having bills approved by the Senate within 100 days. Collaboration with Democrats has been positive, indicating a shared desire to achieve a win in the digital space.
President Trump's campaign promises related to cryptocurrency, including a prohibition on a central bank digital currency, have been fulfilled. However, other regulatory developments, such as the establishment of a "national digital asset stockpile," are still under evaluation.
The Securities and Exchange Commission has created a crypto task force led by Hester Pierce, who advises investors to remain patient as the process of improving the regulatory landscape will be gradual.