PANews reported on February 12 that according to CoinDesk, the U.S. House of Representatives Digital Assets Subcommittee held a hearing on February 11 to explore the future development of the crypto industry in the United States and promote legislation to provide regulatory clarity. The hearing was themed "The Golden Age of Digital Assets," indicating the Republican-led committee's support for the crypto industry.

Bryan Steil, a Republican congressman from Wisconsin and chairman of the committee, said the Trump administration plans to establish a reasonable regulatory framework for responsible digital asset companies. Industry representatives stressed that Congress should enact basic laws as soon as possible to provide a clear market structure for the crypto industry. Former CFTC Chairman Timothy Massad suggested that lawmakers give the SEC and CFTC greater decision-making power over regulatory details.

At the same time, Democratic lawmakers took the opportunity to criticize the $TRUMP memecoin that Trump personally supports, accusing it of possible conflicts of interest and constitutional violations. Federal Reserve Chairman Powell also said on the same day that he would not promote central bank digital currency (CBDC) during his term.