Sioux Empire Today

House Committee on Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development Chairman Dusty Johnson (R-S.D.), House Committee on Agriculture Chairman G.T. Thompson (R-PA), House Committee on Financial Services Chairman French Hill (R-AR), and House Committee on Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence Chair Bryan Steil (R-WI) have released a discussion draft of a bill aimed at establishing a regulatory framework for digital assets in the United States.

“America needs to be the powerhouse for digital asset investment and innovation,” stated Subcommittee Chairman Johnson. He emphasized the need for "a commonsense regulatory regime" to support this goal. Johnson expressed his appreciation for working with Chairmen Thompson, Hill, and Steil in developing the draft language.

Chairman Thompson highlighted the necessity of "regulatory clarity" in digital asset markets. “Today marks the first step in advancing a comprehensive framework that protects consumers, fosters innovation, and closes regulatory gaps in oversight," he said. Thompson praised the collaboration between members of the Agriculture Committee and the Financial Services Committee.

Chairman Hill noted previous progress made during the 118th Congress towards creating a bipartisan consensus for regulating digital assets. He mentioned that their discussion draft builds upon earlier efforts to provide regulatory clarity while protecting consumers. Hill looks forward to feedback from the public and working with both House and Senate colleagues as well as the Trump Administration.

Subcommittee Chairman Steil referred to this period as "the golden age of digital assets," acknowledging leadership by Chairmen Hill and Thompson. The discussion draft aims to maintain America's leading position in financial innovation while ensuring consumer protection against fraud.

A joint hearing titled “American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century” is scheduled tomorrow by both subcommittees involved.