The crypto industry got a chance to make a full-throated appeal for Congress to finally intervene and set legal standards for digital assets businesses in the U.S. during a hearing Tuesday in front of the House of Representatives subcommittee that focuses on digital assets.

Under the Republican-led subcommittee’s title “A Golden Age of Digital Assets,” the industry representatives showed up in the hearing with momentum at all levels of the federal government, including from the White House, whose crypto czar was the one to first utter the “golden age” phrase. Just over two years after the devastation of collapsing crypto lenders and the criminal implosion of FTX in 2022, the industry has proven its sharp recovery with a slate of lawmakers clearly on-board for the legislation the industry has been calling for.

“Under the Trump administration, we will course correct by creating a workable pathway for responsible digital asset companies to set up operations here in the United States,” said Representative Bryan Steil, a Wisconsin Republican who chairs the subcommittee that’s an offshoot of the House Financial Services Committee.

Republicans on the pan

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Author: Jesse Hamilton