House Financial Services Committee Chairman French Hill and Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee Chairman Bryan Steil issued a statement endorsing President Trump’s signing of multiple executive orders related to digital assets, pointing to the establishment of the President’s Working Group on Digital Asset Markets and an executive order they said bars issuance of a U.S. central bank digital currency. The lawmakers said the working group is intended to strengthen U.S. leadership and enable collaboration among Congress, officials, and agencies, while criticizing the Securities and Exchange Commission’s approach under former Chair Gary Gensler as “rule by enforcement.” They also linked the CBDC prohibition to protecting Americans’ financial privacy and said they plan to work with the Trump Administration on legislation to create a clearer regulatory framework and consumer and investor protections for digital assets.
U.S. Financial Services Committee 2025-01-24
U.S. House Financial Services Committee leaders back Trump executive orders on digital assets including a working group and CBDC prohibition
House Financial Services Committee Chairman French Hill and Subcommittee Chairman Bryan Steil endorsed President Trump's executive orders on digital assets, including establishing the President’s Working Group on Digital Asset Markets and prohibiting a U.S. central bank digital currency (CBDC). They criticized the Securities and Exchange Commission's past enforcement and emphasized the need for clearer regulations to protect financial privacy and enhance consumer and investor protections.