Thomas Daniels
French Hill and Bryan Steil, two prominent U.S. legislators, have expressed their support for former President Donald Trump’s recent executive actions that target advances in artificial intelligence (AI) and digital assets. Steil, the chair of the Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee, and Hill, the chair of the House Financial Services Committee, stressed the significance of these actions in preserving American technology leadership.
The executive orders, which were signed on January 23, demonstrate Trump’s determination to maintain American leadership in cutting-edge technologies. The establishment of the President’s Working Group on Digital Asset Markets, which aims to foster collaboration between Congress, regulators, and private sector stakeholders in order to develop a workable regulatory framework for digital assets, is a crucial component of these efforts.
“We applaud President Trump for taking important steps to ensure America remains a leader in digital financial technology on the international stage,” said Hill and Steil in a joint statement praising the actions. To get this right, the President’s Working Group will enable crucial cooperation and bolster American leadership.
Both congressmen stated their intention to oppose former SEC Chair Gary Gensler’s regulatory approach, which they deemed harmful to the ecology of digital assets. Furthermore, citing serious privacy issues, Hill and Steil reiterated their opposition to a Central Bank Digital Currency (CBDC) issued by the United States. Rather, they supported private-sector innovation in the creation of stablecoins backed by the dollar, seeing such efforts as a better way to update financial technology.
With bipartisan players uniting around innovation and tackling urgent privacy and financial stability concerns, these actions represent a significant step in forming the U.S. regulatory environment for digital assets and AI.
