Republican Representative Bryan Steil is advocating for clear regulations for cryptocurrency as he prepares to chair the House’s Subcommittee on Digital Assets, an important Congressional group focused on blockchain policy.
The GOP representative from Wisconsin was announced in a list of new House leadership by Representative French Hill, who was appointed to lead the House Financial Services Committee during Donald Trump’s administration.
In a statement on Thursday, Jan. 9, Hill mentioned that the House Committee and Subcommittees, under the leadership of Representative Bryan Steil and other Republicans, will “establish a regulatory framework for digital assets” aimed at protecting U.S. investors and fostering innovation within American technology.
Representatives Hill and Steil have been vocal critics of regulatory bodies like the Securities and Exchange Commission and its recently departed chair, Gary Gensler, citing shortcomings in digital asset regulation. Gensler announced his resignation on Jan. 20, coinciding with Trump’s inauguration. Trump nominated pro-crypto Paul Atkins to succeed Gensler, pending Senate approval.
Bryan Steil and French Hill have backed cryptocurrency legislation within the House’s digital assets subcommittee, including FIT21, which aims to clarify oversight of cryptocurrencies and regulatory authority. Steil also voted in favor of a stablecoin bill to nationally regulate U.S. dollar-backed tokens.
The House Financial Services Committee and its digital assets subcommittee play a pivotal role in shaping cryptocurrency policy, positioning Steil at the forefront of a highly discussed issue over the past months and years.
