Lawmakers plan to move first on stablecoins as they push new crypto legislation following Trump win

Lawmakers plan to move first on stablecoins as they push new crypto legislation following Trump win

Republican Lawmakers Move Quickly to Establish Crypto Regulations Under Trump Administration

Republican lawmakers are accelerating efforts to introduce clear regulations for the digital asset industry, aligning with President Donald Trump’s pro-crypto stance. The initiative includes a bipartisan stablecoins bill and a broader crypto market structure framework, aimed at providing clarity to the fast-evolving sector.

House Financial Services Committee Chairman French Hill (R-Ark.), alongside Senate Banking Committee Chairman Tim Scott (R-S.C.), Senate Agriculture Committee Chairman John Boozman (R-Ark.), and House Agriculture Committee Chairman G.T. Thompson (R-P.A.), unveiled their legislative roadmap during a press conference on Tuesday. Trump’s AI and crypto czar, David Sacks, also joined the discussion, underscoring the administration's commitment to digital asset innovation.

Stablecoins Bill and Market Structure Legislation

The first priority for lawmakers is stablecoin regulation. On Tuesday, Senators Bill Hagerty (R-Tenn.), Kirsten Gillibrand (D-N.Y.), Cynthia Lummis (R-Wyo.), and Scott introduced the U.S. Stablecoins (GENIUS) Act, which seeks to establish a clear regulatory framework for stablecoins as a payment method.

Senator Scott emphasized the urgency of the initiative, stating, “My goal is to be as aggressive as possible, to achieve an objective of having bills through the Senate in a hundred days.” He also noted bipartisan cooperation, saying Democrats are eager to “achieve a win in this digital space.”

Trump's Executive Order on Crypto and Future Plans

In January, Trump signed an executive order to coordinate digital asset policies through a presidential working group led by David Sacks. The group is tasked with creating clear regulations for crypto, while also assessing the feasibility of a national bitcoin reserve—a move that could mark a historic shift in U.S. financial policy.

While some Trump campaign promises—such as blocking a central bank digital currency (CBDC)—have been quickly addressed, others, like the creation of a federal digital asset stockpile, remain in the early stages. Sacks confirmed that evaluating a bitcoin reserve would be a top priority for the working group, stating, “We’re still in the very early stages, but that’s one of the first things we’re going to look at.”

As the Trump administration moves forward with its pro-crypto agenda, industry leaders and investors are closely watching whether these regulatory moves will provide the long-awaited clarity needed to propel U.S. digital asset markets forward.