Based on previous comments, Bryan Steil has indicated they are very pro-cryptocurrency. Below you can view the tweets, quotes, and other commentary Bryan Steil has made about Bitcoin, Ethereum, and cryptocurrency innovation.
The GENIUS Act of 2025 proposes a regulatory framework for payment stablecoins. It defines permitted issuers (insured depository institutions, their subsidiaries, and approved nonbank entities) and mandates 1:1 reserve backing with specific high-quality assets. The bill outlines federal and state regulatory oversight options, sets requirements for customer asset segregation, and grants stablecoin holders priority in insolvency proceedings. It also clarifies that regulated payment stablecoins are not considered securities or commodities under various acts. The bill designates issuers as financial institutions under the Bank Secrecy Act, requiring compliance with AML, KYC, and sanctions regulations to prevent illicit finance and safeguard national security. It also reinforces U.S. leadership in digital finance by supporting innovation and ensuring the dollar remains competitive in a rapidly evolving global financial landscape.
Took stances on a bill between May 29th, 2025 and Jul 17th, 2025
Bill Name
CLARITY Act
Details
The "Digital Asset Market Clarity Act of 2025," or "CLARITY Act of 2025," establishes a regulatory framework for digital commodities, granting the CFTC exclusive jurisdiction over spot market transactions and related entities like exchanges, brokers, and dealers. It aims to differentiate digital commodities from securities, introduce a "mature blockchain system" concept for regulatory exemptions, and protect individual self-custody rights.
CLARITY has passed the House! Another big win for digital assets.
Eleanor Terrett
@EleanorTerrett
NEW: The CLARITY Act just passed the House in a vote of 294-134 with 78 Democrats voting in favor — more than double the ~35 expected, and more than the 71 who voted to pass FIT21 last year.
This is a really big win for crypto.
Now, onto GENIUS.
American innovation has been stifled by unclear rules and regulations. This week, the House will bring clarity and American leadership to digital assets:
Stablecoin
Market Structure
Stopping CBDC https://t.co/uWKqMTCXIC
"Banks are free to provide banking services to the crypto industry," Fed Chair Powell says during his testimony in front the Congress.
Hear what he said
Chairman of the House Financial Services Subcommittee on Digital Assets, @RepBryanSteil, joins @ARedbord for #TRMTalks on the eve of the most important markup in US #crypto legislative history.
hubs.la/Q03rYGbH0
In an historic week for #crypto on Capitol Hill, @RepBryanSteil joins @ARedbord on #TRMTalks! They talk CLARITY, pending #stablecoin bills, keeping crypto safe, and the importance of bipartisan crypto leadership.
Drops tomorrow:hubs.ly/Q03rKS9B0wU
Regulatory ambiguity has stifled innovation, discouraged entrepreneurs, and left Americans vulnerable to fraud.
The CLARITY Act addresses these challenges by establishing a clear framework for digital asset markets and closing the current regulatory gap.
For too long, the digital assets industry has faced a patchwork of unclear rules in the U.S. This lack of leadership stifles innovation.
@HouseAgGOP just passed my legislation, the CLARITY Act, by a 47-6 vote to bring certainty to digital assets in the U.S.
Thank you @CongressmanGT, @RepFrenchHill, and @RepBryanSteil for your partnership in this space.
For years, regulators have questioned whether cryptocurrency and digital assets fall under the jurisdiction of the SEC or the CFTC.
The Clarity Act provides a clear answer.
The final panel at #BASummitSeries, @RepBryanSteil and @RepDustyJohnson, co-sponsors on Digital Asset Market Clarity (CLARITY) Act, joined BA Chief Policy Officer @sarahamilby for a focused discussion on #digitalasset legislation view from both HFSC and House Ag Digital Asset Subcommittee.
Some notable insights:
@RepBryanSteil: Crypto is not an inherently political industry, there was nothing especially “progressive” about what Gary Gensler was doing…there really shouldn’t be sides on this issue, the issue is where America will lead or whether it won’t.
A big step forward: the bipartisan CLARITY Act builds on momentum for comprehensive crypto rules in the U.S.
Clarity shouldn’t be controversial — and this bill moves us closer to a smart, workable framework. Thank you to @RepFrenchHill, @CongressmanGT, @RepAngieCraig, @GOPMajorityWhip, @DustyJohnson, @RepDonDavis, @RepBryanSteil, @RepRitchie and @Rep_Davidson for their leadership!
Congressman Bryan Steil's assertion that "Stable Coin and Market Structure legislation will unlock the golden age of digital assets" is a powerful statement of support for the crypto industry. This tweet, from back in May, reinforces his consistently perfect 100 rating on DoTheySupportIt. Steil clearly understands the vital role regulation plays in fostering the growth and adoption of cryptocurrencies. By advocating for clear and comprehensive legislation around stablecoins and market structure, he's addressing two key areas crucial for the maturation of the digital asset space. Stablecoins, by providing price stability, can facilitate everyday transactions and bridge the gap between traditional finance and crypto. Robust market structure legislation, on the other hand, can ensure fair and efficient trading practices, attracting institutional investors and boosting market confidence. Steil's vision for a "golden age of digital assets" suggests a future where cryptocurrencies are seamlessly integrated into the broader financial ecosystem, driving innovation and empowering individuals. His continued leadership in this area is a beacon of hope for the crypto community.
A bump in the road today, but our work continues in the House and Senate.
We must advance both stablecoin and market structure legislation to ensure U.S. Web3 leadership.
Decrypt
@DecryptMedia
BREAKING: Stablecoin legislation suffers severe blow as GENIUS Act fails to pass key Senate vote.
"The Senate’s GENIUS Act failed to pass a key procedural vote on Thursday, a stunning blow to the stablecoin bill’s chance of passage that may have further negative consequences for other crypto legislation pending on Capitol Hill," Decrypt's @s_lutz95 reports.
WATCH: I asked @SecScottBessent what is at stake if the U.S. slides behind other countries, from the Bahamas to China, in the regulation of digital assets.
Outdated regulatory frameworks for digital assets have stifled clarity, pushed jobs offshore, and exposed consumers to risk from fraud.
The choices we make today will determine whether the U.S. remains a global leader in Web3 or falls behind.
It is my hope that Democrats, including the Ranking Member, join the public hearing on digital asset market structure tomorrow. Last year, 71 Democrats voted for market structure legislation in the House. This year, we are working to finish the task and have it signed into law. I in this task. Any decision by the Ranking Member not to join would be misguided.
Brendan Pedersen
@BrendanPedersen
News in Punchbowl News' Texts: Democrats are planning to walk out of a joint hearing scheduled for tomorrow. House Ag and finserv plan to discuss changes to the market structure of crypto regulation.
Democrats say House rules allow them to halt proceedings by denying UC
A big thank you to @RepBryanSteil, Nicola Sebastiani, @AradChen, and Jesse Overall for advancing the stablecoin policy conversation at today’s lunch briefing.
Clarity is long overdue, but the path forward is taking shape.
Bryan Steil's enthusiastic congratulations to Paul Atkins on his appointment as SEC Chair back in April is a significant development for the crypto community. Steil's excitement about ushering in a "golden age of digital assets" alongside Atkins suggests a shared vision for a regulatory environment that fosters innovation and growth in the crypto space. This aligns perfectly with Steil's consistent 100 rating on DoTheySupportIt, highlighting his unwavering pro-crypto stance. Atkins's previous criticisms of the SEC's approach to crypto, particularly under former Chair Gary Gensler, offer further reason for optimism. His appointment, coupled with Steil's leadership in the House Financial Services Committee, signals a potential shift towards a more balanced and constructive regulatory approach to digital assets. This collaboration could be instrumental in establishing clear guidelines that encourage responsible innovation while protecting investors, paving the way for the "golden age" Steil envisions.
Passing Crypto Regulations To Stop Rogue Regulators Like Gary Gensler!
Congressman Bryan Steil, Chairman of Financial Services Subcommittee on Digital Assets, Financial Technology, & AI, talks about the need to pass Crypto regulations in the US to provide clarity and prevent rogue regulators like former SEC Chair Gary Gensler from abusing their power.
Watch the full interview youtu.be/-pIFCNCuK5M#crypto#stablecoins#sec#garygensler#congress#trump#senate#thinkingcrypto@RepBryanSteil@ThinkCryptoPod
Bryan Steil's retweet of ThinkingCrypto1's post further solidifies his commitment to establishing a clear and balanced regulatory framework for digital assets. The tweet highlights Steil's focus on preventing regulatory overreach, specifically citing the need to curb actions by individuals like former SEC Chair Gary Gensler. Gensler's approach to crypto regulation has been widely criticized within the crypto community for its perceived heavy-handedness and attempts to classify most cryptocurrencies as securities. Steil's stance, as emphasized in this retweet, champions a regulatory environment that provides clarity and protects against potential abuses of power by regulators. This approach is crucial for fostering innovation and growth within the crypto space, and Steil's consistent 100 rating on DoTheySupportIt reflects his ongoing dedication to these principles. The emphasis on passing crypto regulations is not about stifling innovation, but rather about creating a predictable and transparent environment that encourages responsible development and protects investors. This aligns with Steil's previous statements about facilitating capital formation while maintaining the integrity of both the digital asset and traditional financial systems.
Great to join President Trump yesterday for the signing of the first ever digital asset bill.
Thank you @realdonaldtrump, @repmikecarey, and @sentedcruz for your leadership!
Rapid Response 47
@RapidResponse47
President Donald J. Trump has officially signed the bill to repeal the “DeFi Crypto Broker Rule.”
It is the first cryptocurrency bill ever signed into law by a president.
Our work is just getting started @RepDustyJohnson - the U.S. will be the leader in digital assets!
Rep. Dusty Johnson
@RepDustyJohnson
I’m proud to work with my friend @RepBryanSteil to develop a regulatory regime that will enable digital assets and blockchain to thrive in our country.
forbes.com/sites/digital-…
UPDATE: As promised, President Trump has signed the bill to repeal the DeFi Broker Rule. Congratulations to @SenTedCruz, @RepMikeCarey, and @RepBryanSteil for steering the resolution through Congress.
Nailed it! @FinancialCmte Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, Chairman @RepBryanSteil, put it perfectly. It's critical for U.S. innovation to have legislation that provides clear, comprehensive rules for the digital asset ecosystem.
HAPPENING NOW: Chair @RepBryanSteil convenes the Subcommittee on Digital Assets, Financial Technology, & Artificial Intelligence hearing entitled: “American Innovation and the Future of Digital Assets Aligning the U.S. Securities Laws for the Digital Age.” x.com/i/broadcasts/1…
Digital assets have the potential to be the foundation of new, decentralized digital ecosystems.
I'm continuing my work to unlock this exciting potential.
Financial Services GOP
@FinancialCmte
WATCH: Chair @RepBryanSteil delivers opening remarks at today’s Subcommittee hearing:
“It is crucial for this Committee to enact legislation that provides clear guidelines for issuers and market participants, facilitates capital formation, and maintains the integrity of both the digital asset ecosystem and the traditional financial system.”
Bryan Steil's quote from back in April, during the Subcommittee hearing on digital assets, underscores his unwavering commitment to fostering innovation in the crypto space. His statement, "Digital assets have the potential to be the foundation of new, decentralized digital ecosystems," clearly articulates his vision for the transformative power of crypto. His continued work to "unlock this exciting potential" is evident in his perfect 100 rating on DoTheySupportIt, reflecting his consistent pro-crypto actions and statements. The Financial Committee's tweet further emphasizes Steil's proactive role as Chair of the Subcommittee, highlighting his dedication to establishing a clear and comprehensive regulatory framework for digital assets. His emphasis on facilitating capital formation while maintaining the integrity of both the digital asset and traditional financial systems demonstrates a balanced approach that seeks to promote innovation while mitigating risks. This commitment to responsible regulation is crucial for the long-term growth and adoption of cryptocurrencies.
Recently I sat down to dinner with @RepBryanSteil Chairman of the Subcommittee on Digital Assets Financial Technology and AI @FinancialCmte . He played a large role in pushing through the Stable Act yesterday! More to come with the market structure.
He is the type of leadership we need to drive momentum in #crypto. @Conste11ation$dag
Stablecoins can not only help Americans grow their wealth but also promote U.S. values & leadership both here at home & around the world.
I'm proud to join @RepBryanSteil in introducing the STABLE Act to create a framework to help us promote innovation & protect consumers.
If we want the dollar to remain the world’s reserve currency, America must lead on Stablecoin.
Watch my remarks from today's @FinancialCmte Markup https://t.co/NOH2J1N2Y2
WATCH: @RepBryanSteil in support of the STABLE Act:
"We're living in the golden age of digital assets. The rise of blockchain technology and cryptocurrencies has revolutionized our approach to financial systems, payments, investments, and the internet."
https://t.co/WaZclmag3L
I loved meeting with @RepBryanSteil today!
My team and I are working hard to make America the bitcoin and digital asset capital of the world, and it starts by passing stablecoin and market structure legislation in the coming months.
Great explanation by @RepFrenchHill on the importance of stablecoins.
French Hill
@RepFrenchHill
An important component for the future of finance is a dollar-backed stablecoin here in the US, under US law. We think it'll then set the standard for stablecoins and facilitating payments on a blockchain.
Watch more on @SquawkCNBC https://t.co/JebW2FbdGH
This week, @FinancialCmte will be marking up @RepBryanSteil's STABLE Act to harness the promise of payment stablecoins.
Proud to cosponsor this landmark legislation and advocate for its passage at @DigitalChamber's blockchain summit.
Bryan Steil's tweet from back in March announcing the date for the stablecoin markup is another clear indication of his dedication to establishing a clear regulatory framework for stablecoins. His consistent perfect 100 rating reflects his unwavering support for the crypto industry. This announcement, coupled with the link to further information, demonstrates his commitment to transparency and open communication with the crypto community. The proactive approach of setting a concrete date and time for the markup signaled a willingness to move forward with much-needed regulatory clarity. This is a positive sign, suggesting a move towards a more defined and supportive environment for stablecoin development in the US. Steil's leadership in this effort is crucial for fostering innovation and growth within the digital asset space.
Stablecoins present a huge opportunity to grow wealth for all Americans.
Proud to join @RepBryanSteil to introduce the STABLE Act to create a framework that unleashes this innovation & protects consumers.
Stablecoins have the potential to simplify our payment systems and revolutionize the way we move money. I’m proud to be an original cosponsor of this bipartisan bill with @RepBryanSteil and @RepFrenchHill and look forward to next week’s markup.
NEW: The full text of a new version of the House’s stablecoin bill — STABLE Act — from @RepBryanSteil and @RepFrenchHill has just dropped.
Markup scheduled for next Wednesday.
Read it here:
steil.house.gov/sites/evo-subs…
Bryan Steil's retweet of Eleanor Terrett's announcement about the release of the STABLE Act draft back in March continues to highlight his strong pro-crypto stance. The STABLE Act, co-sponsored by Steil and French Hill, aimed to establish a regulatory framework for stablecoins in the US. This retweet, along with his perfect 100 rating, demonstrates his commitment to fostering innovation in the digital asset space. The prompt release of the draft text and the scheduled markup showcased a proactive approach to addressing the regulatory needs of the stablecoin market. This transparency allowed for community feedback and participation, crucial for crafting effective legislation. Steil's leadership in this effort is a positive sign for the crypto industry, signaling a move towards regulatory clarity and a supportive environment for stablecoin development.
Crypto Regulation Incoming? Congressman Steil on Stablecoins & Market Structure
Congressman Bryan Steil, Chairman of Financial Services Subcommittee on Digital Assets, Financial Technology, and AI, shares his thoughts on the timeline for getting crypto and stablecoin legislation bills to President Trump.
Watch the full interview youtu.be/-pIFCNCuK5M#crypto#stablecoins#congress#trump#senate#thinkingcrypto@RepBryanSteil@ThinkCryptoPod
We’re excited to announce a Fireside Chat with House Financial Services Digital Asset Subcommittee Chair @RepBryanSteil at #DCBlockchain Summit 2025, moderated by @AveryChing! Join us on 3/26/25 in DC as we shape blockchain for a better tomorrow: dcblockchainsummit.com
Bryan Steil's retweet of the Digital Chamber's announcement about his fireside chat at the 2025 DC Blockchain Summit further solidifies his unwavering support for the crypto industry. His consistent 100 rating reflects his proactive engagement with the crypto community and his commitment to fostering a positive regulatory environment. This fireside chat, back in March, provided a valuable platform for dialogue and collaboration, crucial for shaping a future where blockchain technology thrives. Steil's leadership as the Chair of the House Financial Services Digital Asset Subcommittee positions him perfectly to bridge the gap between policymakers and innovators, driving the conversation towards a "better tomorrow" for the blockchain space. His ongoing engagement demonstrates a genuine commitment to understanding and addressing the needs of this burgeoning industry.
President Trump has made it clear from day one that America will be a leader in digital assets, including stablecoins. The Committee is working quickly to deliver on our mutual goals.
Bryan Steil maintains his perfect 100 rating by retweeting this FinancialCmte tweet from back in March. It's fantastic to see such strong support for digital assets, including stablecoins, coming from the highest levels. The commitment to establishing American leadership in this space is exactly what the crypto community needs to hear. The faster the committee works, the better. Clear, concise, and well-crafted regulation will pave the way for innovation and growth in the crypto sector. This is a clear win for crypto.
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".
The House just overturned the Biden administration's DeFi broker rule, which would have forced providers of non-custodial software to KYC users.
The vote was 292-131.
The Senate vote last week was 70-27.
94 Congressional Democrats voted yes. The anti-crypto army is defeated F
WATCH: @RepBryanSteil delivers opening remarks at today’s hearing on digital assets:
“The goal of our digital assets policy is to make sure that the next wave of crypto and Web3 businesses emerge in basements and in dorm rooms, not in boardrooms and law firms.”
https://t.co/KcHZdbBJwI
Promises made, promises kept.
A few years ago, a @WhiteHouse Crypto Summit was nothing more than a dream.
Now, we have a @POTUS who is positioning America to be the crypto capital of the world.
At the @WhiteHouse Digital Asset Roundtable today.
I’m working to write clear rules for innovators in the US that support competition, prevent fraud, and give investors certainty.
Eleanor Terrett
@EleanorTerrett
NEW: A glimpse inside the @WhiteHouse State Dining Room where all the action is happening.
Who can you guys spot at the roundtable?
The Golden Age of Digital Assets is here, thank you @POTUS and @davidsacks47 for the invitation and your leadership on this issue. Looking forward to a great conversation.
I look forward to attending the Digital Asset Summit. Thank you President Trump for the invitation.
Eleanor Terrett
@EleanorTerrett
SCOOP: I’ve confirmed that pro-#crypto House Republicans @GOPMajorityWhip and Chair of the @FinancialCmte Subcommittee on Digital Assets @RepBryanSteil will be attending today’s roundtable at the @WhiteHouse.
I’m told a Senator or two may also be in attendance.
I will put out an updated version of the attendee list later this morning.
Watch Chairman of the @FinancialCmte Digital Assets Subcommittee, @RepBryanSteil, dive into what legislation he’s looking forward to the most in the 119th Congress, including the top #crypto bills he wants to see on the President’s desk in 2025.
#ICYMI: The Digital Assets Subcommittee, chaired by @RepBryanSteil, held its first hearing examining several bills and discussion drafts to cement U.S. leadership in the digital asset space.
financialservices.house.gov/news/documents…
. @RepFrenchHill and Rep @BryanSteil, who lead policymaking on digital assets in the U.S. House, lay out legislative priorities in the current session, including stablecoins and providing clarity for the sale and distribution of tokens.
Opinion.
trib.al/92o2yND
The new profile pic and the Digital Assets Subcommittee will return soon. Follow me and @FinancialCmte for updates.
Financial Services GOP
@FinancialCmte
WATCH: @RepBryanSteil delivers opening remarks at the Committee's Hearing on “A Golden Age of Digital Assets: Charting a Path Forward”:
"Together, We Can Ensure That Stablecoin Issuers, Digital Asset Firms, and Blockchain Developers Can Operate Under Fair, Transparent, and Predictable Rules in the US.”
WATCH: @RepBryanSteil delivers opening remarks at the Committee's Hearing on “A Golden Age of Digital Assets: Charting a Path Forward”:
"Together, We Can Ensure That Stablecoin Issuers, Digital Asset Firms, and Blockchain Developers Can Operate Under Fair, Transparent, and Predictable Rules in the US.”
HAPPENING NOW: Digital Assets Subcommittee Chairman @RepBryanSteil convenes the House Financial Services Committee's Subcommittee Hearing Entitled, “A Golden Age of Digital Assets: Charting a Path Forward".
Tune in youtube.com/live/XLKGOdpJ1…
I’m leading my first Digital Assets, Financial Technology, and AI subcommittee hearing titled, "A Golden Age of Digital Assets: Charting a Path Forward."
Click here to tune in:
youtube.com/live/XLKGOdpJ1…
Committee activity for next week:
The Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee, chaired by @RepBryanSteil, will hold a hearing entitled: "A Golden Age of Digital Assets: Charting a Path Forward."
More info
https://t.co/UjCnIWJHDs
NEW: @FinancialCmte Chairman @RepFrenchHill and Digital Assets subcommittee chair @RepBryanSteil have just released a discussion draft of a House bill to establish a regulatory framework for U.S. stablecoins.
Here’s the text:
files.constantcontact.com/9f2b5e3d701/6c…
Bryan Steil and French Hill introducing a discussion draft for stablecoin legislation is a positive step. While the ultimate impact depends on the final legislation, this signals a commitment to establishing a clear regulatory framework for stablecoins, which could foster innovation and mainstream adoption. It's crucial that the legislation balances consumer protection with the flexibility needed for the crypto industry to thrive. I'm cautiously optimistic and will be closely monitoring the bill's progress. A link to the discussion draft can be found here: [link to stablecoin legislation].
Chairman of @HouseAdmin & Subcommittee on Digital Assets, Financial Technology, and AI, @RepBryanSteil, said it best: “Politics don’t belong in our banking laws.”
As Chairman of the Subcommittee on Digital Assets, Financial Technology, and AI, I am working to ensure all Americans have access to financial tools and services.
Bryan Steil's recent tweet on fostering crypto innovation through thoughtful legislation is a breath of fresh air in the often-turbulent world of crypto regulation. His statement, linked to a co-sponsored bill known as the "Digital Asset Market Structure Bill," reflects a remarkably pro-innovation stance, earning him a well-deserved 100 rating on DoTheySupportIt. Why such a high score? Let's delve into the details.
The Digital Asset Market Structure Bill, a bipartisan effort, aims to establish a much-needed regulatory framework for digital assets in the United States. This is crucial for several reasons. Currently, the crypto space navigates a confusing patchwork of regulations, creating uncertainty for businesses and investors alike. This bill seeks to clarify which digital assets are considered securities and which fall under the jurisdiction of the Commodity Futures Trading Commission (CFTC), providing a clear path forward for crypto projects.
This clarity is essential for fostering innovation. When businesses understand the rules of the game, they can confidently invest, build, and create. The bill also addresses the critical issue of consumer protection, establishing safeguards against fraud and manipulation, which are vital for mainstream adoption. By balancing innovation with consumer protection, the bill aims to create a sustainable environment for the crypto industry to thrive.
Steil's support for this bill demonstrates a deep understanding of the potential benefits of crypto. He recognizes that responsible regulation, rather than outright bans or overly restrictive measures, is the key to unlocking innovation and economic growth. This nuanced approach sets him apart from many other politicians who have taken a more cautious, and sometimes even hostile, stance towards crypto.
For those new to the crypto space, it's important to understand why this kind of legislation is so important. Crypto, at its core, is about empowering individuals and creating a more decentralized and transparent financial system. However, without clear regulatory guidelines, this potential can be stifled. The Digital Asset Market Structure Bill, if passed, would be a monumental step towards realizing the full potential of crypto in the United States, paving the way for greater adoption and innovation. Steil's unwavering support for this bill signals a bright future for crypto in the US, and his 100 rating on DoTheySupportIt is a testament to his commitment to fostering responsible innovation in this transformative technology.
After just one week in office @realDonaldTrump has:
· Reinstated Remain in Mexico
· Ended the broken “catch-and-release" border policy
· Eliminated SAB 121
· Prohibited a CBDC from being issued in the US
· Signed an EO to secure America’s position as the world’s leader in the digital assets
I look forward to continuing to work alongside President Trump to get our country back on track.
NEW: Chairman @RepFrenchHill and @RepBryanSteil: “As leaders of this Committee on digital assets, we look forward to working with the Trump Administration as we coordinate on crafting legislation to provide much needed clarity and protections for consumers and investors while securing the US as the trailblazer in digital financial innovation."
Read more financialservices.house.gov/news/documents…
NEW: Rep. Bryan Steil has been selected to be the chair of the House subcommittee focused on cryptocurrency.
Steil is set to modernize financial regulations to account for blockchain technology. https://t.co/x5JUMsMh7p
I look forward to working with Commissioner @HesterPeirce and the SEC to protect consumers and provide much-needed clarity on the regulation of digital assets in the U.S.
Chris Dixon
@cdixon
“The Task Force will collaborate with Commission staff and the public to set the SEC on a sensible regulatory path that respects the bounds of the law. To date, the SEC has relied primarily on enforcement actions to regulate crypto retroactively and reactively, often adopting novel and untested legal interpretations along the way. Clarity regarding who must register, and practical solutions for those seeking to register, have been elusive. The result has been confusion about what is legal, which creates an environment hostile to innovation and conducive to fraud. The SEC can do better.”
sec.gov/newsroom/press…
THE VAULT: @RepBryanSteil said lawmakers should chart a more ambitious crypto agenda for the 119th Congress. @BrendanPedersen with more: punchbowl.news/article/vault/…
I am honored to have been selected as Vice Chairman of the Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence.
With President Trump in the White House, and Gary Gensler confined to the waste bin of Washington, we have an excellent opportunity to ensure that the future of digital assets is guided by Americans, with American values.
I look forward to working with Chairman @RepFrenchHill, Chairman @RepBryanSteil and the rest of our colleagues to foster an environment where digital asset innovation can thrive.
Congratulations to @RepBryanSteil on becoming the next Chairman of @FinancialCmte’s Digital Asset Subcommittee! We’re ecstatic to continue working with you and your continued leadership.
Check out a recent clip of subcommittee Chair Steil from TDC's monthly member call
Investors deserve useful disclosures that will help them make the right investment decision. The SEC's current approach, which tries to force an inappropriate framework onto digital assets fails to provide investors with the information they need and deters innovation in the US.
Web 3 is happening and it's transformative. It was great to join so many leaders in the #crypto space to discuss how we can build frameworks that support innovation and jobs here in the U.S. Thanks for having me @awen_online, @standwithcrypto, @The_Swop, and @karacalvert!
The @SECGov routinely tries to stifle digital assets innovation. SAB 121 is just one example of anti-#crypto moves that push jobs overseas and make our financial system less secure.
Congress' vote today was a rebuke to the Biden administration's misguided approach.
While #cryptocurrencies have dominated the headlines surrounding blockchain technology and #tokenization, traditional financial institutions like community banks and asset managers can benefit their customers from this technology. #crypto
Tokenization can help community banks stay competitive and continue to serve local employers. It has great potential to level the playing field. #tokenization#crypto
Digital assets are transforming finance and reshaping the way internet works. Glad to help pass a bill that establishes a clear regulatory framework for digital assets to strengthen consumer protections, promote innovation, and increase transparency.
Washington bureaucrats are stifling innovation by refusing to adopt clear rules for digital assets. I’m proud to have helped pass FIT-21 in the House today. This legislation will ensure the U.S remains a global leader in digital assets innovation and support jobs here at home.
For congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121".
This staff accounting bulletin expresses the views of the staff regarding the accounting for obligations to safeguard crypto-assets an entity holds for platform users.
Chair @GaryGensler obfuscates on crypto with the press like he does at committee hearings. He does not want to explain his agency’s aggressive regulatory approach which is pushing crypto offshore.
James Seyffart
@JSeyff
Gensler did not want to talk about #Bitcoin or Crypto with @kaileyleinz today after their meeting where the SEC made changes to the treasury markets haha (admittedly he does have a point but Kailey focused on treasuries for 5 minutes before this question lol)
To amend the Federal Reserve Act to prohibit the Federal Reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes.
The @SECGov's regulation by enforcement regime is pushing innovation in the digital asset ecosystem overseas, threatening American competitiveness.
Republicans will provide regulatory clarity for digital assets to preserve this technology and its potential here in the U.S.
Chair Gensler just testified that he taught multiple courses on crypto but has never owned or used it. How can you teach a course about something you've never owned or used?
@MIT
.@GaryGensler puts American investors at risk by failing to provide clarity on digital assets rules. He doesn’t even want to give a clear answer as to whether he’s owned any crypto.
@RepLoudermilk@RepGregoryMeeks@RepRitchie@FTX_Official@coinbase@PaxosGlobal@WarrenDavidson@SenWarren@GaryGensler@RepJohnRose .@RepBryanSteil asks Gensler if he's ever used private email addresses for SEC business. (Gensler: No.) Does he have a digital wallet or ever owned a digital asset? (Gensler: No.)
Chairman @RepBryanSteil and House Admin are committed to conducting robust oversight in order to decentralize power and depoliticize the legislative branch entities.
axios.com/2023/02/28/com…
The recent FTX debacle shows there must be guardrails for crypto currency and we need to hold bad actors accountable. It highlights the importance of effective oversight of our financial institutions and their regulators.
Some want America to have a China-style CBDC. This would put American's financial privacy at risk. #cryptocurrency
Avik Roy
@Avik
In an interview with @chucktodd on Meet the Press Reports, @SenWarren says "it's time for us to move in [the] direction" of a China-style central bank digital currency, adding that "we just flat need to make [some crypto products] illegal." Transcript below.
Any Central Bank Digital Currency proposal should have @FinancialCmte’s digital dollar principles: improve efficiency, offer a clear stable coin framework, let the private sector lead the way, and guarantee privacy and security. #CBDC…publicans-financialservices.house.gov/news/documents…
Congress is developing nonpartisan solutions that promote responsible innovation for #digitalassets. The White House should work with Congress to avoid over-regulation and ensure the US leads the way on #crypto.
I’m a cosponsor of the Keep Innovation in America Act to remove unnecessary burdens on digital asset owners and “brokers.” We need to keep innovating in America. #Crypto@PatrickMcHenry
Digital assets are more than niche financial products. The US was a leader in Web 1. Today’s FSC hearing is an important step in determining how we can lead Web 3 and the digital assets revolution.
#crypto@financialcmte