The U.S. Crypto Asset Core Group was established to pave the way for digital asset legislation

Compiled by: Blockchain Knights

House Majority Whip Tom Emmer and Congressman Ritchie Torres announced the formation of the Congressional Crypto Assets Caucus, a bipartisan coalition designed to advance pro-Crypto legislation in the House.

The move signals more coordinated legislative work in the digital asset space as lawmakers work to establish regulatory clarity for the $3 trillion industry.

Unlike the Congressional Blockchain Caucus, which was established in 2017 as an educational resource, the newly formed Congressional Crypto Assets Caucus will serve as a voting group to mobilize support for digital asset legislation, including bills involving stablecoins and market structure reforms.

Emmer said the formation of the caucus was in response to voters' demand for clear and innovation-friendly digital asset policies. The congressman said:

"The Caucus is an ideologically unified, non-partisan group of members that can mobilize quickly to support key digital asset initiatives in Congress. We will continue to work to ensure that the United States remains the best place in the world to build and innovate the next generation of the Internet."

The announcement comes as lawmakers accelerate efforts to pass a regulatory framework for digital assets. President Donald Trump, a self-proclaimed supporter of the Crypto asset industry, has called for the United States to become the "Crypto Capital of the World."

Currently, two bills focused on regulating stablecoins (Crypto assets pegged to assets such as the U.S. dollar) are being considered by the House of Representatives, and industry stakeholders are providing input on their provisions.

Meanwhile, in the Senate, the Banking Committee plans to hold a review session on Senator Bill Hagerty's stablecoin bill, the GENIUS Act, as early as next week.

Senator Tim Scott, Chairman of the Senate Banking Committee, recently stated that his goal is to have both the stablecoin and market structure bills signed into law by April. However, bipartisan consensus remains uncertain.

Torres emphasized the role of the caucus in advancing meaningful legislation across party lines. He said:

"The Congressional Crypto Assets Caucus will be a driving force in promoting policies that promote innovation, protect consumers, and ensure that cutting-edge technology can thrive in the United States. I am honored to lead this effort with Representative Emmer to build a unified, bipartisan coalition to consolidate America's leadership in the future of finance."

The formation of the caucus shows that legislators are increasingly recognizing the role of digital assets in the economy and the need for clear and comprehensive regulations. However, it remains to be seen whether the initiative can overcome political obstacles and pass important Crypto asset legislation.