US White House AI and Crypto Chief David Sacks said that the Bill on stablecoins and Bitcoin (BTC) will be a top priority in the 119th Congress.
Accompanied by the leaders of the US House and Senate, David Sacks said that the stablecoin and Bitcoin bill would be the first crypto law after President Donald Trump returned to lead the US.
Senator Bill Hagerty at the same press conference introducing the stablecoin bill, then Senate Banking Committee Chairman Tim Scott said he would quickly push the bill through the 119th Congress before the larger crypto market structure bill is completed.
Additionally, House Financial Services Committee Chairman French Hill said the new legislation would incorporate stablecoins into the FIT21 structure, the US legislative framework for regulating the crypto market.
Meanwhile, Sacks said the crypto task force's current priority will be investigating strategic Bitcoin reserves.
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