PANews reported on February 5 that according to Decrypt, on Tuesday, David Sacks, the White House artificial intelligence and cryptocurrency chief, held his first cryptocurrency-themed press conference, outlining legislative priorities and revealing the Trump administration’s first major initiatives to regulate emerging industries: a market structure bill and a comprehensive stablecoin bill.

The event was attended by key leaders from both the Senate and the House of Representatives, with Senate Banking Committee Chairman Tim Scott saying he plans to push two key cryptocurrency bills through the Senate within the first 100 days of President Donald Trump’s inauguration — a deadline that is less than three months away. Scott added that the GENIUS Act, a stablecoin bill introduced by Senator Bill Hagerty on Tuesday, is likely to advance first.