Appointed as an advisor on digital assets by US Treasury Secretary Scott Bessent, Tyler Williams emphasized during his first speech in Washington that stablecoin legislation would serve as a strong starting point.

Highlighting the importance of collaboration between the crypto sector and regulators, Williams noted that serious efforts would be made in the Treasury Department in this field. House Member Bryan Steil also stated that the US should not fall behind in global competition for digital asset regulations.

Former industry attorney Tyler Williams, who was appointed as an advisor on digital assets by US Treasury Secretary Scott Bessent, wasted no time in his role by delivering encouraging messages to the crypto industry. Speaking at a special digital asset event in Washington, DC, Williams emphasized supporting Congress in enacting stablecoin legislation as a strong initial step for US digital asset regulations.

Stablecoin regulations are among the top priorities. Williams, a former lawyer at Galaxy Digital, stressed the need to support lawmakers working in the crypto sphere. Addressing attendees at the event hosted by Chainlink, Williams stated, “Let’s support our friends working on stablecoin policy in Congress as much as possible. If states, banking regulators, and the entire ecosystem adhere to the same rules to become issuers, it would be a significant outcome for Washington.”

While stating that he had been serving at the Treasury Department for a few weeks, Williams highlighted that this appointment sends a positive signal to the sector. Pointing out the broad jurisdiction intersecting with Treasury; tax policy, sanctions, anti-money laundering inspections, and the Financial Crimes Enforcement Network (FinCEN), Williams expressed that there is a willing team to work in this field at the department.

MEMBER STEIL: ”WE ARE TRULY AT A TURNING POINT”
US Representative Bryan Steil, Chairman of the Digital Assets Subcommittee within the House Financial Services Committee, stated in his speech at the event that the US needs to enhance its global competitiveness in the digital asset field. Mentioning that bipartisan support for crypto regulations continues to grow, Steil said, “We are truly at a turning point. The US must not lag behind the rest of the world in nurturing digital assets.”

Steil also reminded that during the previous session, bipartisan support was gained under the 21st Century Financial Innovation and Technology Act (FIT21), believing that this bipartisan collaboration will further expand in the future.

NEW DYNAMICS FOR CRYPTO POLICIES IN WASHINGTON
Chainlink’s co-founder Sergey Nazarov, who spoke at the event, mentioned that there is an increasingly productive approach to crypto policies in Washington. Williams also agreed with this view and drew attention to the efforts led by David Sacks, who was appointed during the Trump era and currently plays an active role in crypto policies. “I see all pieces of the puzzle moving in the same direction. This is taking the US global leadership in digital assets further,” he said.

Williams noted that financial regulatory agencies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are undertaking new initiatives in the crypto field, indicating that the Treasury Department is in a busy working pace.

Having served in the department during the Trump administration in the past, Williams expressed that the government’s refreshed perspective on crypto regulations is crucial for the sector. Emphasizing that the work to be carried out at the Treasury Department will play a critical role in determining the regulatory framework for the sector, Williams added that stablecoin legislation will mark the beginning of this process.