The chairmen of key House committees have released a discussion draft aimed at creating a regulatory framework for digital assets in the United States. House Committee on Financial Services Chairman French Hill, House Committee on Agriculture Chairman G.T. Thompson, House Committee on Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence Chair Bryan Steil, and House Committee on Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development Chair Dusty Johnson unveiled the draft on May 5, 2025.
The draft builds upon the bipartisan work done in the 118th Congress to establish a functional regulatory framework for digital assets. Chairman Hill emphasized that the proposal would provide much-needed regulatory clarity for the digital asset ecosystem, protecting consumers and ensuring the long-term integrity of digital asset markets in the U.S. He expressed his eagerness to receive public feedback and collaborate with his House and Senate colleagues to finalize a clear framework.
Chairman Thompson highlighted that regulatory clarity is overdue in digital asset markets and that the draft represents the first step toward a comprehensive framework that protects consumers, fosters innovation, and addresses regulatory gaps. He praised the collaborative effort between the Committee on Agriculture and the Financial Services Committee.
Subcommittee Chairman Bryan Steil noted that the ‘golden age of digital assets is here’ and that the House is leading the way to keep America at the forefront of financial innovation while protecting consumers from fraud. Subcommittee Chairman Dusty Johnson stressed the need for a commonsense regulatory regime to make America a powerhouse for digital asset investment and innovation.
The release of the discussion draft is part of a broader effort by the committees to address digital asset regulation. The House Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence and the House Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development are set to hold a joint hearing titled ‘American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century.’
This development follows previous actions by the committees, including a digital asset market structure hearing held on April 9, 2025, and the successful reporting of the STABLE Act to the full House of Representatives on April 2, 2025. The chairmen have also published op-eds outlining their vision for digital asset market structure legislation.
