U.S. Treasury's New Crypto Point Person Says Stablecoin Law a Good First Goal

1 month ago

Tyler Williams, a crypto lawyer hired arsenic the crypto counsellor for Treasury Secretary Bessent, said there's a ton of wrong enactment to beryllium done successful the department.

Feb 27, 2025, 4:25 p.m. UTC

WASHINGTON, D.C. — Within hours of the announcement that he'd started arsenic the crypto counselor for Treasury Secretary Scott Bessent, erstwhile Galaxy Digital lawyer Tyler Williams was addressing a backstage integer assets lawsuit successful Washington, D.C., telling the assemblage that helping Congress get stablecoin authorities crossed the extremity enactment is simply a worthy opening effort.

"Be arsenic supportive arsenic we tin to our friends successful Congress" who are moving connected stablecoin policy, Williams advised attendees astatine the Chainlink-hosted event, arguing that getting those backbone dollar-denominated tokens connected ineligible footing would beryllium "a precise bully usage case" for manufacture allies successful Washington to push. "If we tin enactment a regulatory wrapper astir it successful a mode that allows states and slope regulators and each the ecosystems to unrecorded successful the aforesaid rulebook to beryllium an issuer, I deliberation that's a beauteous bully result for D.C."

Meanwhile, Williams, who worked arsenic a regulatory lawyer for Galaxy, indicated he'd really been successful the relation for a fewer weeks and said "the information that I person a occupation astatine the U.S. Treasury Department" is an fantabulous motion for the industry.

Rep. Bryan Steil, the Wisconsin Republican who is present astatine the helm of the integer assets subcommittee successful the House Financial Services Committee, said astatine the aforesaid Wednesday evening event that "we've truly turned a corner."

The lawmaker said the U.S. needs to "outcompete the remainder of the world” connected nurturing integer assets, and helium predicted the bipartisan vigor that saw dozens of Democrats support the past session's crypto market-structure legislation, the Financial Innovation and Technology for the 21st Century Act (FIT21), volition "continue to grow."

Rep. Bryan Steil, president of the integer assets subcommittee

That came arsenic a invited sentiment to Chainlink's co-founder, Sergey Nazarov, who said he's seeing a "very productive mindset" successful Washington.

Williams referenced the enactment led by David Sacks, the crypto czar appointed by President Donald Trump, and helium said, "I spot each the pieces of the puzzle moving successful 1 direction, which is to beforehand the U.S. enactment connected integer issues."

While helium noted agencies similar the Securities and Exchange Commission and the Commodity Futures Trading Commission already moving connected caller initiatives, helium said "we person our hands full" wrong his department.

So galore aspects of the Treasury's jurisdiction autumn crossed the industry, including taxation policy, sanctions, money-laundering oversight and the Financial Crimes Enforcement Network (FinCEN), helium said, but a squad determination is "eager to enactment connected this issue.

"I deliberation they're excited astir the imaginable of having a refreshed presumption from the government," said Williams, who is marking his 2nd stint successful the department, having worked determination during Trump's archetypal term.

Jesse Hamilton

Jesse Hamilton is CoinDesk's lawman managing exertion connected the Global Policy and Regulation team, based successful Washington, D.C. Before joining CoinDesk successful 2022, helium worked for much than a decennary covering Wall Street regularisation astatine Bloomberg News and Businessweek, penning astir the aboriginal whisperings among national agencies trying to determine what to bash astir crypto. He’s won respective nationalist honors successful his reporting career, including from his clip arsenic a warfare analogous successful Iraq and arsenic a constabulary newsman for newspapers. Jesse is simply a postgraduate of Western Washington University, wherever helium studied journalism and history. He has nary crypto holdings.