The Trump administration and key congressional leaders are advancing a bipartisan initiative to establish regulatory clarity for cryptocurrency and digital assets in the United States.

Regulatory Clarity for Crypto: Congress and White House Align on Strategy

David Sacks, President Trump’s cryptocurrency czar, joined Senate Banking Committee Chairman Tim Scott (R-S.C.), Senate Agriculture Committee Chairman John Boozman (R-Ark.), House Financial Services Committee Chairman French Hill (R-Ark.), and House Agriculture Committee Chairman G.T. Thompson (R-Pa.) to discuss the administration’s priorities for digital asset policy.

Sacks emphasized the need for clear regulations, arguing that the lack of guidance from agencies like the Securities and Exchange Commission (SEC) has driven crypto innovation offshore. He pointed to past regulatory enforcement actions that, in his view, unfairly targeted the industry without providing clear compliance standards. Sacks asserted that a transparent regulatory framework would encourage innovation while ensuring consumer protection.

Lawmakers outlined plans for a bicameral working group focused on market structure legislation and stablecoin regulation. Senator Bill Hagerty (R-Tenn.) recently introduced a stablecoin bill, which proponents argue could bolster U.S. dollar dominance in global finance by expanding its digital use. Hill highlighted prior bipartisan efforts in the House to advance stablecoin legislation and a broader regulatory framework, emphasizing the need for continued momentum.

Boozman underscored the complexities of digital asset oversight, given the jurisdictional split between the SEC and the Commodity Futures Trading Commission (CFTC). He stressed the importance of collaboration between regulators and legislators to create a structure that protects investors while allowing the industry to grow.

Thompson noted that while the crypto industry has faced setbacks, including the collapse of FTX, it has rebounded, and demand for regulatory clarity is stronger than ever. He expressed optimism that the bipartisan working group, in coordination with the White House, could develop a framework that balances innovation with necessary safeguards.

Sacks concluded by reaffirming the administration’s commitment to fostering a “golden age” of digital assets in the U.S., positioning the country as a global leader in financial technology while ensuring regulatory oversight that benefits both consumers and entrepreneurs. Sacks also said that one of the things President Donald Trump asked them to do was “evaluate” a strategic bitcoin reserve.