Lawmakers Hail Executive Orders on Digital Assets

House Financial Services Committee Chairman French Hill and Digital Assets Subcommittee Chairman Bryan Steil have applauded President Donald Trump for his recent Executive Orders on digital financial technology.

Lawmakers have expressed support for President Trump's recent Executive Orders on digital financial technology, highlighting the importance of maintaining U.S. leadership in the global digital asset sector.

In a joint statement on Jan. 24, House Financial Services Committee Chairman French Hill and Digital Assets Subcommittee Chairman Bryan Steil applauded the administration's commitment to the issue.

“These Executive Orders will help ensure continued American leadership in the global digital asset market,” the statement reads.

The lawmakers highlighted the establishment of the President's Working Group on Digital Asset Markets, which will bring together Congress, key officials, and agencies to collaborate on crafting effective policies.

“The Working Group will also coordinate on legislative proposals to provide much-needed clarity and protections for consumers and investors,” they added.

The statement also touched on past challenges in regulating digital assets, criticizing the enforcement-focused approach of former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler.

“As former SEC Chair Gensler continually ruled by enforcement, we worked tirelessly to combat the agency's harmful actions against the digital asset ecosystem and pass meaningful legislation that would create a functional regulatory framework for digital assets,” the lawmakers stated.

The congressmen emphasized the need for clear and supportive regulations to encourage innovation while protecting consumers and investors, highlighting their efforts to block the issuance of a central bank digital currency (CBDC) in the U.S., which they believe could threaten financial privacy.

“President Trump's Executive Order solidifies that we are in lockstep when it comes to protecting the financial privacy of Americans,” they said, expressing optimism about working closely with the administration to advance the legislative framework for digital assets.

“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 United States as the trailblazer in digital financial innovation,” the statement concludes.