House Republicans and Democrats have joined forces to create the Congressional Crypto Caucus, a bipartisan voting bloc aimed at advancing crypto-friendly policies and digital asset legislation.
This newly formed caucus in the U.S. House of Representatives was announced on March 3 by House Majority Whip Tom Emmer and Rep. Ritchie Torres (Democrat, New York). The initiative seeks to mobilize support for digital asset legislation, including bills on stablecoins and market structure.
Congressman Emmer stated that the caucus was created in response to millions of voters prioritizing crypto-friendly candidates in the November 2024 elections.
“This Caucus serves as an ideologically unified, nonpartisan group of members that can quickly mobilize to support key digital asset initiatives in Congress.”
Emmer said.
Torres echoed this sentiment in a post on X, emphasizing that the caucus will play a key role in shaping crypto legislation.
Crypto regulation gains momentum in Congress
Unlike previous efforts before it, the new bi-partisan caucus will operate as a voting bloc to advance crypto legislation already in progress. Two bills focused on stablecoin regulations have been introduced in the House, with lawmakers currently gathering industry input.
In the Senate, the Banking Committee, led by Sen. Tim Scott (Republican, South Carolina), is aiming for an April deadline to pass both stablecoin and market structure bills. According to Terrett, the GENIUS Act, introduced by Sen. Bill Hagerty (Republican, Tennessee), could see a markup hearing as early as next week.
This comes as the White House announced it will be hosting its first-ever Crypto Summit on March 7. Topping that, on Mar. 2, President Donald J. Trump, according to a crypto.news report, following up on his Executive Order on Digital Assets, directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA), and Solana (SOL).
