Source: cryptoslate
Compiled by: Blockchain Knight
House Majority Whip Tom Emmer and Congressman Ritchie Torres announced the formation of the Congressional Crypto Assets Caucus, a bipartisan coalition aimed at advancing pro-crypto legislation in the House of Representatives.
The move signals a more coordinated legislative effort in the digital asset space as lawmakers work to establish regulatory clarity for the $3 trillion industry.
Unlike the Congressional Blockchain Caucus, which was established in 2017 as an educational resource, the new Congressional Crypto Assets Caucus will serve as a voting group to mobilize support for digital asset legislation, including bills involving stablecoins and market structure reforms.
Emmer said the caucus was formed in response to constituents’ demands for clear and innovation-friendly digital asset policies. The congressman said:
“The Caucus is an ideologically aligned, nonpartisan group of members that can mobilize quickly to support critical digital asset initiatives in Congress. We will continue to work to ensure that the United States remains the best place in the world to build and innovate the next generation of the internet.”
The announcement comes as lawmakers accelerate efforts to pass a regulatory framework for digital assets. President Donald Trump, a self-proclaimed supporter of the crypto asset industry, has called for the U.S. to become the “crypto asset capital of the world.”
Two bills focused on regulating stablecoins (crypto assets pegged to assets like the U.S. dollar) are currently being considered by the House of Representatives, and industry stakeholders are providing input on their terms.
Meanwhile, in the Senate, the Banking Committee plans to hold a review session on Senator Bill Hagerty’s stablecoin bill, the GENIUS Act, as early as next week.
Senate Banking Committee Chairman Senator Tim Scott recently said his goal is to have both the stablecoin and market structure bills signed into law by April. However, bipartisan consensus remains uncertain.
Torres emphasized the role of the caucus in reaching across party lines to advance meaningful legislation.
“The Congressional Crypto Caucus will be a driving force in advancing policies that foster innovation, protect consumers, and ensure cutting-edge technology can thrive in America. I’m honored to lead this effort alongside Representative Emmer, building a unified, bipartisan coalition to solidify America’s leadership in the future of finance.”
The formation of the caucus shows that lawmakers are increasingly aware of the role of digital assets in the economy and the need for clear, comprehensive regulations. However, it remains to be seen whether the initiative can overcome political obstacles and pass significant crypto asset legislation.
