House Agriculture Committee Chairman Glenn ‘GT’ Thompson, House Financial Services Committee Chairman French Hill, House Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development Chairman Dusty Johnson, and House Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence Chairman Bryan Steil have introduced a discussion draft for a bill aimed at establishing a regulatory framework for digital assets in the United States.
Chairman Thompson stated that “regulatory clarity is long overdue in digital asset markets” and emphasized the importance of advancing a comprehensive framework to protect consumers and foster innovation. He acknowledged the collaboration with members of the Financial Services Committee and expressed gratitude to Chairman Dusty Johnson for his bipartisan leadership.
Chairman Hill noted the progress made during the 118th Congress in building bipartisan consensus on creating a functional regulatory framework for digital assets. He highlighted that the discussion draft aims to provide regulatory clarity by protecting consumers and maintaining market integrity. Hill also mentioned his anticipation of receiving public feedback and working with colleagues to finalize the framework.
Subcommittee Chairman Dusty Johnson stressed the need for America to be a leader in digital asset investment and innovation through a commonsense regulatory regime. He expressed pride in developing the draft language alongside Chairmen Thompson, Hill, and Steil.
Subcommittee Chairman Bryan Steil commented on America’s position at the forefront of financial innovation under current leadership. He mentioned that their discussion draft intends to maintain U.S. dominance while safeguarding consumers from fraud. Steil is eager to receive feedback to refine their proposal further.
A joint hearing titled “American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century” will be held tomorrow by relevant subcommittees to discuss this initiative.
