DailySun
Republican Representative Bryan Steil is advocating for transparent regulations on cryptocurrency as he prepares to lead the House’s Subcommittee on Digital Assets, a pivotal group for blockchain legislative efforts.
The GOP Representative from Wisconsin was introduced in a list of new leadership positions in the House by Rep. French Hill, who was appointed to chair the House Financial Services Committee during Donald Trump’s administration.
On Thursday, January 9, Hill remarked that the House Committee and its Subcommittees, under the leadership of Rep. Bryan Steil and other Republican members, will “develop a regulatory framework for digital assets” to safeguard U.S. investors and promote innovation within the nation.
Reps. Hill and Steil have expressed their concerns regarding agencies such as the Securities and Exchange Commission (SEC) and its departing chair, Gary Gensler, highlighting shortcomings in digital asset regulations. Gensler announced his resignation on January 20, coinciding with Trump’s inauguration. Trump nominated pro-crypto advocate Paul Atkins to take over Gensler’s position, pending Senate confirmation.
Bryan Steil and French Hill have backed various crypto legislative efforts in the House’s digital assets subcommittee, including FIT21, which aims to clarify the oversight of cryptocurrencies and regulatory authorities. Steil also supported a stablecoin measure to establish nationwide regulations for U.S. dollar-pegged tokens.
The House Financial Services Committee and its digital assets subcommittee play a vital role in shaping crypto legislation, positioning Steil at the forefront of a highly discussed issue in recent times.
