Washington, D.C. – On Tuesday, February 11, 2025, at 2:30 p.m. EST, the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence of the House Financial Services Committee will hold a crucial hearing titled “A Golden Age of Digital Assets: Charting a Path Forward.” The session will take place in Room 2128 of the Rayburn House Office Building and will feature testimony from top industry leaders and policy experts.
Confirmed witnesses include Jonathan Jachym (Kraken Digital Asset Exchange), Ji Hun Kim (Crypto Council for Innovation), Coy Garrison (Steptoe LLP), and Jose Fernandez da Ponte (PayPal), with additional speakers expected to be announced.
The hearing will explore the current and potential use cases of digital assets and blockchain technology, examining how these innovations can enhance financial systems, promote economic growth, and strengthen consumer protections. Lawmakers will also discuss how regulatory uncertainty under the Biden Administration has driven digital asset innovation overseas and how Congress can reclaim U.S. leadership in this rapidly evolving sector.
The concept of a “Golden Age of Digital Assets” refers to a period of unprecedented growth, adoption, and innovation in blockchain-based technologies. It envisions a future where cryptocurrencies, decentralized finance (DeFi), tokenization, and stablecoins are widely integrated into the economy, offering greater financial inclusion, efficiency, and security. However, achieving this vision requires a clear regulatory framework that balances innovation with necessary oversight.
Several key legislative proposals will be discussed, including:
- H.Res. (Johnson): Supports blockchain technology as a driver of innovation and economic growth.
- H.R. (Lucas): Establishes SEC’s FinHub and CFTC’s LabCFTC to improve fintech regulation.
- H.R. (Timmons): Clarifies that certain NFTs are not securities and mandates a government study on their impact.
- H.R. (Rose): Forms a joint SEC-CFTC advisory committee to enhance regulatory clarity on digital assets.
- H.R. (Davidson): Directs an inter-agency study on decentralized finance (DeFi) to assess risks and opportunities.
- H.R. (Steil): Proposes a federal framework for stablecoin issuance to ensure consumer protections while fostering innovation.
As Congress debates the future of digital asset regulation, this hearing will serve as a critical forum to determine how the U.S. can embrace blockchain innovation while ensuring security and market stability. The outcome could shape whether the nation enters a true Golden Age of Digital Assets or continues to lag behind in global fintech leadership.
