- The US Government has reinforced its commitment to crypto by forming a ‘Nonpartisan Congressional Crypto Caucus’.
- The caucus, consisting of both Republicans and Democrats, aims to support the passage of crypto-friendly bills through Congress.
- The first challenge for the caucus is to advance two dollar-based stablecoin bills currently in the House of Representatives.
In the wake of Donald Trump announcing a strategic digital assets stockpile, the current US Government has doubled down on its commitment to crypto.
In an unprecedented move, Republicans and Democrats are teaming up to form a ‘Nonpartisan Congressional Crypto Caucus’. The body will comprise House members Tom Emmer (Republican) and Ritchie Torres (Democrat) to push crypto-positive legislation through the Government’s lower house.
Related: President Trump to Host Landmark White House Crypto Summit on March 7
Caucus Aims to Help Crypto-Friendly Bills Through House of Reps
Many governments around the world are recognising the potential of digital assets and blockchain technology for finance (among other applications). For example, the Australian election is likely to make digital currencies a key battleground over the coming months.
However, as Web3 technology is novel, there isn’t much industry-specific legislation for cryptocurrency. Rather, most lawmakers are relying on preexisting financial frameworks to police crypto — which has led to uncertainty among major innovators in the sector.
One only has to look at the potential damage caused by the SEC’s ‘regulation by enforcement’ stance to understand the necessity of regulatory clarity.
So, implementing a ‘Crypto Caucus’ intends to address this by rounding up support for crypto-friendly Bills to pass through Congress — no matter which party voters are aligned with.
Stablecoin Bills First in Line for New Crypto Caucus
The team’s first challenge is two tentative dollar-based stablecoin Bills, which are currently making their way through the House of Reps.
Two separate bills to provide clarity around the use of stablecoins, cryptocurrencies pegged to a stable asset like the U.S. dollar, have been introduced in the House with industry currently providing input on the bills’ various provisions.
Fox Business Journalist Eleanor Terrett If successful, the Chairman of the Senate Banking Committee, Senator Tim Scott, aims for these Bills to be on Donald Trump’s desk by April this year.
SCOOP: House Republican @GOPMajorityWhip and Democrat @RepRitchie are teaming up to launch the Congressional Crypto Caucus, a bipartisan initiative with the goal of advancing crypto-friendly policies in Congress’s lower chamber.
Separate from the Congressional Blockchain…
— Eleanor Terrett (@EleanorTerrett) March 3, 2025
Caucus member Congressman Ritchie Torres was excited about the new body and the potential it has to reinvigorate the digital asset sector in the US.
The Congressional Crypto Caucus will be a driving force in advancing policies that foster innovation, protect consumers, and ensure that cutting-edge technology can thrive in the United States, strengthening our position as a global leader in digital assets and blockchain innovation.
Senator Ritchie Torres The post US Congress Forms ‘Crypto Caucus’ to Lead Global Digital Asset Innovation appeared first on Crypto News Australia.
