Congressional Leaders, Trump’s Crypto Czar Announce Plans for Digital Asset Legislation

David Sacks, the newly appointed crypto czar under President Trump, announced plans for a 'golden age' in digital assets during a press conference with key congressional leaders. A bicameral working group is being formed to draft cryptocurrency and stablecoin legislation, aiming for swift action within the first 100 days of the administration. Sacks emphasized the importance of a clear regulatory framework to promote innovation and maintain U.S. leadership in the digital finance sector. The working group will build upon previous legislative efforts, including the FIT21 bill, and consider a new stablecoin bill introduced by Senator Bill Hagerty that proposes dual oversight of stablecoin issuers. Lawmakers expressed a commitment to collaborating across party lines to accelerate crypto-friendly regulations. Sacks reaffirmed that the objective is to ensure financial innovation remains within the U.S. rather than migrating abroad.