Lawmakers and industry leaders are advocating for significant regulatory changes in the cryptocurrency sector during President Trump’s administration.
The goal is to keep the U.S. competitive in the global digital asset market by creating a framework that encourages innovation while ensuring proper oversight, especially as other countries implement clear regulations.
The House Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence will hold a hearing on February 11 titled “A Golden Age of Digital Assets: Charting a Path Forward.” This session will gather key industry experts, including Jose Fernandez da Ponte from PayPal, Jonathan Jachym from Kraken, and Timothy Massad from Harvard University. They will share their insights on the future of cryptocurrency regulation and innovation.
Ahead of the hearing, Ji Hun Kim, president and acting CEO of the Crypto Council for Innovation (CCI), submitted written testimony to Congress, emphasizing the urgent need for a clear and comprehensive federal policy on digital assets. He warned that without decisive action, the U.S. risks falling behind as global competitors like the European Union, the United Kingdom, Japan, and Singapore move forward with well-defined regulatory frameworks.
Kim outlined four key legislative priorities to address this challenge and reinforce the country’s leadership in digital assets. These include passing market structure and stablecoin legislation, improving coordination between the SEC and CFTC, and promoting decentralized finance to empower individuals.
Notably, Utah is advancing efforts to integrate digital assets into its financial systems by introducing Rep. Jordan Teuscher’s “Blockchain and Digital Innovation Amendments” (H.B. 230). This bill allows up to 10% of select funds to be invested in digital assets, requiring eligible assets to have a market capitalization of at least $500 billion or adhere to stablecoin regulations. It permits staking, lending, and self-custody while enforcing strict security measures. Teuscher aims to balance innovation with fiscal responsibility, positioning Utah as a leader in blockchain adoption.
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