Ah, the illustrious US Congress, where the likes of Ritchie Torres and Tom Emmer are now gallivanting about, forming a “Congressional Crypto Caucus.” One can only imagine the delightful soirées they must be planning to advance crypto-friendly policies in the House of Representatives! Torres, ever the social media butterfly, announced this riveting news on his X account on March 3. 🦋
Now, let’s not forget the “Congressional Blockchain Caucus,” which emerged during the twilight years of the Obama presidency. It seems our dear Congress has taken quite a fancy to understanding blockchain technology, as if it were the latest dance craze! 💃
In a rather audacious move, the Congressional Crypto Caucus is set to operate “more as a voting bloc” to rally support for digital asset legislation. One can only hope they have their dancing shoes on for the upcoming stablecoin and market structure bills! According to a press release from Emmer’s office, they’re ready to tango! 💃🕺
At present, the House of Representatives is mulling over a draft bill to establish a regulatory framework for dollar-based stablecoins. How thrilling! US Representatives French Hill and Bryan Steil introduced this gem on Feb. 7, while Maxine Waters has also thrown her hat into the ring, calling for support of a stablecoin bill from 2024. 🎩
Steil, the current chairman of the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, hinted that another market structure bill might be on the horizon. Oh, the suspense! It’s rumored to be a fortified version of the bipartisan FIT21 bill that the House passed in 2024. 🏰
Both Torres and Emmer have a rather charming history of supporting the crypto industry. Torres, in a moment of sheer brilliance, took to X to extol the virtues of digital assets after voting “yes” for the FIT21 bill:
“It represents a bipartisan effort to regulate the digital assets industry, prevent the next FTX, safeguard consumers, cement the US as a global leader in finance and technology, and promote a secure, innovative, and inclusive financial future.”
Emmer, the House majority whip and vice chairman of the Digital Assets Subcommittee, proclaimed, “With President Trump in the White House…we have an excellent opportunity to ensure that the future of digital assets is guided by Americans, with American values.” How positively patriotic! 🇺🇸
The news of this upcoming bipartisan Congressional Crypto Caucus is like a breath of fresh air for crypto enthusiasts, as more tailwinds emerge from Washington. On March 2, President Donald Trump announced that his Working Group on Digital Assets would include Bitcoin (BTC), Ether (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA) in the US strategic crypto reserve. And let’s not forget, Trump will host the first White House Crypto Summit on March 7. What a spectacle that promises to be! 🎉
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2025-03-03 21:52