Crypto regulations must be enacted by a Congress law to be a permanent and significant piece of law, according to former congressman Wiley Nickel.
In an exclusive video interview with Cointelegraph’s Turner Wright Turner Wright, Nickel urged Cooperation of bipartisan To push through comprehensive crypto regulation. The former congressman added:
“I think it’s really important for anyone who cares about this issue to withdraw and realize that if you want long -term change in Washington, you should move the law through Congress. Otherwise, if you are talking about executive orders, it will come back.”
“You don’t want to have a mess we’ve seen months ago with Gary Gensler’s Sec – you have to get law through Congress,” Nickel said again.
Jan. Jan. Jan. 23 Executive Order Establishment of Working Group in Digital Assetsthat also prohibits the formation of a central digital currency (CBDC), and the order Establishment of a Bitcoin Strategic Reserve Next to a separate crypto stockpile, are both examples of executive actions that may be reversed someday.
Former congressman Wiley Nickel pictured sitting second from left to Blockworks Digital Asset Summit. Source: Cointelegraph
Related: Congress on track for Stablecoin, market structure bills by August: Blockchain Association
The same chamber of Congress rushes to push through significant law
Rep. Tom Emmer, the majority of the whip of the United States House of Representative, who -reintroduced law Prohibition of a CBDC in the US On March 6th.
Wyoming Senator Cynthia Lummis Also Bitcoin Act has been re -shown In March, setting up a previous bill of the same title but allowed the US to buy more than 1 million Bitcoin (Btc).
Senator Lummis’ Bitcoin Act of 2025. Source: Senator Cynthia Lummis
Rep. Byron Donalds that he will enact law to I -Codify the Bitcoin Strategic Reserve By law – protecting President Trump’s original executive command from the fall of a future administration.
On March 12, the House of Representative Removed IRS broker rule which requires decentralized financial platforms to report Internal Revenue Service information to a 292-131 vote.
Speaking at this year’s Blockworks Digital Asset Summit, Democrat Rep. Ro Khanna that Congress should do Pass the comprehensive crypto regulation In 2025, including a Stablecoin bill and a market structure bill.
Magazine: SEC U-Turn to Crypto leaves key questions that are not answered
