Venture capitalist David Sacks and Republican lawmakers are collaborating to establish a regulatory framework for cryptocurrencies within the next six months. Their initial focus is on stablecoins, aiming to create a clear regulatory environment for the digital assets ecosystem.
Venture capitalist David Sacks and Republican lawmakers spent much of Tuesday laying out their plans to start working towards a regulatory framework for crypto.
Earlier in the day, Sacks joined leaders of the House and Senate committees for banking and finance for a press conference to talk about their early objectives for crypto policy, with the help of the SEC. It was part of a busy day in Washington for regulators and key players on Capitol Hill and in Trump's White House to announce next steps in their digital currency plans.
The leaders said their first priority is supporting a stablecoin bill introduced by Sen. Bill Hagerty , who has proposed new rules for stablecoins to create a "clear regulatory framework" for their use. Stablecoins are a type of cryptocurrency whose value is pegged to a real-world asset, such as the U.S. dollar.
Finance CRYPTOS REGULATION STABLECOINS CONGRESS DAVID SACKS
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