Press Releases

Today, the House Financial Services and Agriculture Committees are holding a joint roundtable on digital assets led by Digital Asset Subcommittee Chairmen Bryan Steil (WI-01) and Dusty Johnson (SD-AL). This discussion will assess the current regulatory roles of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CTFC) and also evaluate proposed frameworks for classifying digital assets.

Read Subcommittee Chairman Steil’s opening remarks as prepared for delivery:

"Before I begin my remarks, I want to acknowledge what just occurred.

"For over a month, the Majority on both the Financial Services and Agriculture Committees worked in good faith to organize a joint subcommittee hearing—designed to foster meaningful dialogue on digital assets and the legislative solutions needed to close the existing regulatory gaps.

"While some of my colleagues have chosen to leave the room, our work will continue undeterred.

"This legislation is simply too important not to engage in an open and public discussion about how the United States can lead in the Web3 era.

"I remain hopeful they will soon recognize the stakes and the critical importance of robust, nonpartisan engagement in this process.

"More than fifteen years ago, a nine-page document—the Bitcoin White Paper—sparked a shift in how we think about money, trust, and value.

"That idea sparked the digital asset ecosystem.

"Innovators have since built decentralized networks that offer services once unimaginable.

"But innovation has not followed a straight line.

"Outdated regulatory frameworks and a “regulation by enforcement” approach under the Biden-Harris Administration have stifled clarity and pushed jobs, investment, and leadership offshore.

"Worse, the uncertainty has exposed consumers to greater risk from fraud and mismanagement.

"Congress has both the opportunity and responsibility to act.

"We must pass comprehensive, bipartisan legislation that provides clarity and fosters responsible innovation.

"Last month, Chairmen French Hill and GT Thompson introduced six core principles that now form the basis of the discussion draft released yesterday.

"Today’s roundtable will evaluate those principles and address key questions about: asset classification, agency jurisdiction over centralized intermediaries, reducing regulatory fragmentation, and establishing guardrails that support innovation.

"The path forward is clear.

"The choices we make now will determine whether the U.S. remains a global leader in digital finance or falls behind.

"Thank you to our panelists for being here today.

"I look forward to a thoughtful and productive discussion. "