White House Amnesty International and Crypto CZAR David Sachs The first press conference to focus on encryption was held on Tuesday, as it defined legislative priorities and raised the first major stab wound to the Trump administration in organizing the narrative industry: the draft market structure law and a comprehensive bill.

In this event, which participated in a major leadership from the Senate and the House of Representatives, the Chairman of the Senate Banking Committee, Tim Scott (R-SC), said that each of the main bills to pass votes in the Senate by the end of the first 100 days of President Donald Trump is intended - The deadline is less than three months from today.

Scott added that the Stablecoin Bill, which was brought by Senator Bill Hajri (R-TN) is likely to advance first.

This is a draft law, called the Genius Law, will create a way for the concrete legitimacy of the US dollar -backed Stablecoins. Stablecoins, which allows encryption users to stop money in the codes fixed on asset associated assets such as the US dollar, rose to this dominance As a critical tool between the increasingly interlocking worlds of financial assets and traditional digital assets.

Among the other requirements, the genius law is obligated to the stablecoin exporters to send monthly review reports on the health of the reserves that support its products, and any company shall be punished falsely reports for their reserves on criminal charges, according to the draft law by Decipher.

At the press conference on Tuesday, Republican chairs of the Financial Services Committee in the House of Representatives, the Senate Banking Committee, the Agriculture Committee of the House of Representatives, and the Senate Agriculture Committee for the formation of a comprehensive working group of people with ruins.

"The financial assets are scheduled to become digital, just like every representative industry has become digital," Sachs said. "We want to create value in the United States."

When he was asked on Tuesday about Fit21, the body of the coding market Pass The House of Representatives said last year, with the support of the two parties, House Financial French Hill (R-R) that the bill "has the basics", but a new market law has been presented in the coming months could include "some modest changes."

Decipher I mentioned previously that in light of her overwhelming political victories in November, the encryption lounge appears to be determined Get rid of Fit21 In favor of legislation is more suitable for industry.

At the press conference focused on Tuesday, Sacks also faced questions about the Federal Check Reserve, which is currently Thinking is going on From the White House. On Monday, Trump signed an executive order ordering the creation of a US sovereign wealth box, which is what Excitement Among the encryption circles, given the close relations between other wealth funds supported by the state and digital assets such as Bitcoin.

Sacks explained, however, although he and the Crypto work group will soon be achieved in the strategic reserves for encryption, the Trump's sovereign wealth fund "slightly separate" from these considerations.

Edit Andrew Hayouard