Ending the era of uncertainty: Congress delivers for crypto
With 'Crypto Week,' the House of Representatives is following through on President Trump's commitment to make America the 'Crypto Capital of the World' — sending a message to innovators and entrepreneurs that the days of regulatory uncertainty are coming to an end.
As chairmen of the House Financial Services and House Agriculture committees, we have made it a priority to establish a clear regulatory framework that fosters dynamism while protecting consumers and maintaining the integrity of our financial system.
Our committees have been focused on delivering legislation to President Trump's desk. With bipartisan support, we passed the Digital Asset Market Clarity Act out of our committees, a cornerstone bill that creates the regulatory certainty builders, entrepreneurs and investors have demanded for years. The Clarity Act provides clear regulatory lanes for the Securities and Exchange Commission and Commodity Futures Trading Commission, protects consumers, closes regulatory gaps, and encourages innovation right here at home.
This progress didn't happen overnight. The House of Representatives has been working to lay the groundwork for digital asset legislation since 2018. But recently, progress was stifled by a Biden administration that was openly hostile to crypto and innovation. Fortunately, that era is over.
Now, with Trump back in charge, we have an opportunity to make real change. Last Congress, we helped drive passage of the Financial Innovation and Technology for the 21st Century Act with which the House of Representatives made history, successfully passing the first comprehensive digital asset market structure legislation in Congress. And in just the first few months of the 119th Congress, we have led our committees to advance the Clarity Act, paving the way to deliver the first comprehensive digital asset framework in American history to the president's desk.
Our work this week doesn't end with the Clarity Act. The House will also be considering House Majority Whip Tom Emmer's (R-Minn.) bill which would prevent the creation of a government-run digital dollar, protecting our financial privacy and freedom.
We will also be considering Sen. Bill Hagerty's (R-Tenn.) bipartisan GENIUS Act, a bill to establish a legislative framework for payment stablecoins. Stablecoins hold promise as a potential cornerstone of a modern payment system, if issued under a clear regulatory framework.
This is just the beginning of the journey for digital assets and their role in unlocking American economic growth, global competitiveness and financial opportunity for all. Under President Trump's leadership, and with congressional action, we are finally on track for regulatory clarity, market protection and innovation without fear of government overreach.
We will continue to lead the way towards clear digital asset regulation, and we look forward to putting legislation on President Trump's desk soon. Together, we are unleashing America's full potential and claiming our place as the global leader in digital assets.
Rep. French Hill (R-Ark.) represents Arkansas's 2nd Congressional District and is chairman of the House Financial Services Committee. Rep. GT Thompson (R-Pa.) represents Pennsylvania's 15th Congressional District and is chairman of the House Agriculture Committee.
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