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White House and Congressional Leaders Hold Press Conference on Digital Assets

February 4, 2025 · U.S. Senate Banking Committee GOP · 0:53:56

Embedded from the source channel — never re-uploaded. Watch on YouTube

What happened

White House, Senate, and House leaders held a press conference on digital assets on Capitol Hill on February 4, 2025, according to the Senate Banking Committee broadcast. The administration’s speaker thanked Chairman Tim Scott, Chairman French Hill, Chairman John Boozman, and Chairman GT Thompson for their leadership, as stated in the remarks, and said the president’s first-week executive order made it the administration’s policy to support responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy, as he stated it.

The speaker said the executive order established an executive-branch working group including the Treasury Secretary, the Commerce Secretary, the Attorney General-designate, and other officials, and that the SEC had set up a crypto task force led by Hester Peirce, as he stated it. The shared objective, he said, is to propose a federal regulatory framework governing the issuance and operation of digital assets including stablecoins in the United States, as he stated it.

He said founders’ top request from Washington is regulatory clarity, described the prior four years as arbitrary prosecution and persecution of crypto companies — including founders debanked for founding crypto companies — and argued that financial assets are destined to become digital, that value creation should happen onshore in the United States for innovation and consumer protection, and that the largest crypto fraud, FTX, was based in the Bahamas, as he stated them. He expressed excitement about working with the House and Senate on stablecoin legislation, citing a bill introduced that day by Senator Hagerty, and said stablecoins can ensure dollar dominance and increase digital use of the U.S. dollar as the world’s reserve currency, as he stated it. No official on this site’s tracked roster speaks in the excerpts reviewed, so the page carries no official tags.

Why it matters

The press conference is the launch record for the administration’s digital-assets framework push — an executive order, a working group, an SEC task force, and stablecoin legislation, as stated there — the agenda Congress spent the following session working through.

Scoreboard watch

The speakers stated the working group’s objective is to propose a federal regulatory framework for digital assets including stablecoins, as stated there on February 4, 2025 — checkable against the framework and legislation that followed.

Sources: U.S. Senate Banking Committee GOP, “White House, Senate, House Leaders Host Press Conference on Digital Assets – February 4, 2025”, 2025-02-04 (official upload, embedded above; published 2025-02-04). Transcript via Supadata (private research store, paraphrased and attributed, not republished). All figures and characterizations as stated by the speakers.