Former industry attorney Tyler Williams, appointed as an advisor on digital assets by US Treasury Secretary Scott Bessent, emphasized in his inaugural speech in Washington that stablecoin regulation would be a strong starting point.

Highlighting the importance of the crypto sector collaborating with regulators, Williams noted that serious efforts would be made at the Treasury Department in this area. Congressman Bryan Steil also stated that the US should not fall behind in global competition when it comes to digital asset regulations.

US Treasury Secretary Scott Bessent’s newly appointed advisor on digital assets, former Galaxy Digital attorney Tyler Williams made an encouraging start to his role, delivering promising messages to the cryptocurrency sector. Speaking at a special digital asset event in Washington DC, Williams expressed support for Congress’s efforts to implement stablecoin legislation, emphasizing that this would be a strong initial step for US digital asset regulations.

REGULATIONS FOR STABLECOINS AMONG PRIORITY TOPICS

Williams, a former attorney at Galaxy Digital, highlighted the need to support lawmakers working in the cryptocurrency field during the event. Addressing the attendees at an event hosted by Chainlink, Williams stated, “Let’s offer as much support as possible to our friends working on stablecoin policies in Congress. If states, bank regulators, and the entire ecosystem are subject to the same rules to become an issuer, it would be a very positive outcome for Washington.”

While mentioning that he had been serving in the Treasury Department for a few weeks, Williams underscored that this appointment sent a positive signal to the sector. Stressing that the Treasury holds a broad jurisdiction intersecting with tax policy, sanctions, anti-money laundering checks, and the Financial Crimes Enforcement Network (FinCEN), Williams expressed that there is a willing team at the ministry to work in this area.

REP. STEIL: ”WE ARE TRULY AT A TURNING POINT”

House Financial Services Committee Subcommittee on Digital Assets Chairman Rep. Bryan Steil from Wisconsin also said during the event that the US needs to enhance its global competitiveness in the digital asset field. Noting that bipartisan support for crypto regulations continues to grow, Steil stated, “We are truly at a turning point. The US must not lag behind in feeding digital assets compared to the rest of the world.”

Steil also highlighted that in a previous session, Democratic support was secured under the Financial Innovation and Technology for the 21st Century Act (FIT21), expecting this bipartisan collaboration to grow further in the upcoming period.

NEW DYNAMICS IN WASHINGTON’S CRYPTO POLICIES

Chainlink co-founder Sergey Nazarov, speaking at the event, expressed that there is an increasingly productive approach towards Washington’s crypto policies. Williams agreed with this view, pointing out the efforts led by David Sacks, appointed during the Trump administration and currently playing an active role in crypto policies. He stated, “I see all the pieces of the puzzle moving in the same direction. This further advances the US’s global leadership in digital assets.”

Williams mentioned that financial regulatory agencies, the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) have engaged in new initiatives in the crypto field, indicating that the Treasury Department is working at an intense pace.

Having previously served in the ministry during the Trump administration, Williams emphasized the importance of the government having a renewed perspective on crypto regulations for the sector. He highlighted that the efforts at the Treasury Department would play a critical role in determining what regulatory framework would be established for the sector, adding that stablecoin regulations would mark the beginning of this process.