DC's Crypto Stance Makeover

When David Sacks stepped up to the podium flanked by the most powerful financial lawmakers in Congress, the crypto industry held its breath. What followed was a 30-minute blueprint for what he called crypto's coming "golden age."

After a turbulent start to the week with the on-again, off-again tariff wars, and the US pausing its strikes against Mexico and Canada, the crypto world witnessed one of the largest liquidations early this week, although there was some correction later on.

In light of this, and with Trump's 100 days in office coming to an end, it seemed like a good time for some positive news for crypto enthusiasts. At least, that's what the crypto community was expecting from Crypto Czar David Sacks' first press conference under Donald Trump's administration.

Well, Tuesday's lineup delivered on that—at least partially.

Chairs of various committees outlined what Trump's administration has planned for digital assets and the broader crypto industry. From dismantling "regulation by enforcement" to fast-tracking stablecoin legislation, the message was clear: crypto winter's regulatory deep freeze is thawing.

In today's edition, we help you read in between the lines of the press conference that had a lot of stakes riding on it.

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DC's Crypto Stance Makeover

When David Sacks stepped up to the podium flanked by the most powerful financial lawmakers in Congress, the crypto industry held its breath. What followed was a 30-minute blueprint for what he called crypto's coming "golden age."

"We want to keep that innovation onshore in the US. Financial assets are destined to become digital, just like every analogue industry has become digital, and we want that value creation to happen in the United States, rather than giving it away to other countries," said Sacks.

The reset included the strategy and approach that multiple governmental bodies and committees will take in coordination with the stakeholders to ensure safety of investors and growth of the industry.

Sacks also mentioned that the Digital Assets Working Group's number one priority would be to work towards a national Bitcoin reserve, as promised by President Donald Trump.

Although that didn't drive up crypto markets as much, the conference had quite a few regulatory takeaways from a long-term perspective.

New stablecoin bill dropped in the Senate

Bipartisan working group formed to fast-track legislation

SEC announced scaling down its crypto enforcement unit

CFTC declared an end to "regulation by enforcement"

Let's take them from the top.

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The 100-Day Stablecoin Sprint

With stablecoin market cap currently at $227 billion and Bitwise projecting it to hit $400 billion by year-end, it's got regulators' full attention.

Senate Banking Committee Chair Tim Scott didn't mince words about the timeline for the much-awaited stablecoin bill.

Scott expects both - the stablecoin bill and the broader market structure legislation (Financial Innovation and Technology for the 21st Century, or FIT21 Bill) - to be cleared by the Senate within Trump's first 100 days.

Ambitious and unprecedented, sure. But with Republicans enjoying a trifecta - control in both chambers and a crypto-friendly White House - the math looks different this time.

On Monday, Senator Bill Hagerty introduced the ‘Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act’ - a comprehensive stablecoin framework.

Split oversight between Fed and states based on a $10 billion market cap threshold

Target giants like Tether and USDC for federal regulation

Mandate monthly audited reserve reports

Introduce criminal penalties for false reporting

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David Sacks, White House Crypto Czar

"Stablecoins have the potential to ensure American dollar dominance internationally to increase the usage of the US dollar digitally as the world's reserve currency and in the process create potentially trillions of dollars of demand for the US Treasury."

The Bicameral Blueprint

A "bicameral working group" was also announced at the conference with a lineup including top representatives from both the chambers.

Tim Scott (Senate Banking Chair)

John Boozman (Senate Agriculture Chair)

French Hill (House Financial Services Chair)

Glenn Thompson (House Agriculture Chair)

Their mission? Oversee two major pieces of legislation

The GENIUS Act: Sen. Hagerty's stablecoin framework that would

Set $10B threshold for Fed oversight

Require monthly audited reserve reports

Create criminal penalties for false reporting

Allow state regulation below federal threshold

FIT21 2.0: An updated version of last year's market structure bill with what