- Former Congressman Wiley Nickel emphasizes that permanent crypto regulations require congressional action rather than executive orders.
- Multiple legislators are advancing crypto-related bills, including anti-CBDC legislation and efforts to codify Bitcoin strategic reserves.
- Bipartisan support is building for comprehensive crypto regulation in 2025, with stablecoin and market structure bills anticipated.
Congressional action, not executive orders, is essential for establishing lasting cryptocurrency regulations in the United States, according to former Congressman Wiley Nickel. Speaking in an exclusive interview with Cointelegraph, Nickel highlighted the limitations of presidential directives, which can be easily reversed by subsequent administrations.
“I think it’s really important for anybody who cares about this issue to step back and realize that if you want lasting change in Washington, you must move legislation through Congress. Otherwise, if you’re talking about executive orders, it will just go back and forth,” Nickel stated during the interview.
The former congressman specifically criticized the regulatory approach taken by the Securities and Exchange Commission under Gary Gensler’s leadership, adding: “You don’t want to have the mess that we saw just months ago with Gary Gensler’s SEC — you need to get legislation through Congress.”
Nickel’s comments come in the context of recent executive actions by President Trump, including the January 23 executive order establishing the Working Group on Digital Assets and prohibiting central bank digital currency (CBDC) development. Trump also ordered the creation of a Bitcoin strategic reserve alongside a separate cryptocurrency stockpile—actions that remain vulnerable to reversal by future administrations.
## Legislative Momentum Building in Both Congressional Chambers
Several lawmakers are actively working to transform executive directives into permanent legislation. Rep. Tom Emmer, the majority whip of the U.S. House of Representatives, reintroduced legislation on March 6 that would ban CBDCs in the United States.
In the Senate, Wyoming Senator Cynthia Lummis reintroduced the Bitcoin Act in March, an enhanced version of previous legislation that would authorize the U.S. to acquire more than 1 million Bitcoin (BTC).
Rep. Byron Donalds has announced plans to draft legislation that would codify Trump’s Bitcoin strategic reserve executive order into law, protecting it from potential reversal by future administrations.
The House of Representatives demonstrated bipartisan support for crypto-friendly policies on March 12 by voting 292-131 to repeal the IRS broker rule, which would have required decentralized finance platforms to report information to the Internal Revenue Service.
Looking ahead, Democrat Rep. Ro Khanna expressed optimism at this year’s Blockworks Digital Asset Summit that Congress could pass comprehensive crypto regulation in 2025, including dedicated bills addressing stablecoins and market structure.
Related: Congress on track for stablecoin, market structure bills by August: Blockchain Association
Magazine: SEC’s U-turn on crypto leaves key questions unanswered
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