Key lawmakers back President Trump’s bold move on digital assets, signaling a seismic shift in U.S. financial policy and innovation leadership.
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. In a joint statement on Jan. 24, the lawmakers praised the administration’s commitment to maintaining U.S. leadership in the global digital asset sector. They highlighted the importance of the newly established President’s Working Group on Digital Asset Markets, emphasizing its potential to foster collaboration among Congress, key officials, and agencies in crafting effective policies.
Reflecting on past challenges in regulating digital assets, Hill and Steil criticized the enforcement-focused approach of former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler. They stated:
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 underscored the importance of replacing punitive enforcement strategies with clear and supportive regulations to encourage innovation while protecting consumers and investors.
The two representatives also reiterated their commitment to blocking the issuance of a central bank digital currency (CBDC) in the United States, which they view as a potential threat to financial privacy.
Praising President Trump’s alignment with their efforts, they remarked: “President Trump’s Executive Order solidifies that we are in lockstep when it comes to protecting the financial privacy of Americans.” Looking ahead, Hill and Steil expressed optimism about working closely with the administration to advance the legislative framework for digital assets. They stated:
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.
