Washington, D.C.

Within hours of the announcement that he’d started as the crypto counselor for Treasury Secretary Scott Bessent, former Galaxy Digital lawyer Tyler Williams addressed a private digital assets event in Washington, D.C. He emphasized that assisting Congress in passing stablecoin legislation is a commendable initial effort.

> “Be as supportive as we can to our friends in Congress” who are working on stablecoin policy, Williams advised attendees at the Chainlink-hosted event. He argued that establishing a legal framework for dollar-denominated tokens would be “a very good use case” for industry supporters in Washington to advocate for.

Williams suggested that creating a regulatory framework allowing states, bank regulators, and all ecosystems of issuers to operate under the same rules would be a significant success for D.C.

Williams, having previously worked as a regulatory lawyer for Galaxy, revealed he had been in his role for several weeks, noting that “the fact that I have a job at the U.S. Treasury Department” is a positive indicator for the industry.

Rep. Bryan Steil, the Wisconsin Republican now leading the digital assets subcommittee in the House Financial Services Committee, expressed optimism at the same Wednesday evening event, stating, “we’ve really turned a corner.” He emphasized that the U.S. needs to “outcompete the rest of the world” in nurturing digital assets, predicting that the bipartisan support that existed for the previous session’s crypto legislation, the Financial Innovation and Technology for the 21st Century Act (FIT21), will “continue to grow.”

Chainlink’s co-founder, Sergey Nazarov, welcomed Steil’s remarks, mentioning the “very productive mindset” he is observing in Washington.

Williams acknowledged the contributions of David Sacks, the crypto czar appointed by President Donald Trump, stating, “I see all the pieces of the puzzle moving in one direction, which is to advance U.S. leadership on digital issues.”

While noting that agencies like the Securities and Exchange Commission and the Commodity Futures Trading Commission are already initiating new initiatives, he remarked that “we have our hands full” within his department.

Various facets of the Treasury’s jurisdiction touch upon the industry, including tax policy, sanctions, money-laundering oversight, and the Financial Crimes Enforcement Network (FinCEN). He mentioned a dedicated team eager to tackle these issues.

> “I think they’re excited about the prospect of having a refreshed view from the government,” Williams said, marking his return to the department after previously serving during Trump’s first term.

Read More: Stablecoins Take Center Stage at Senate’s First Digital Assets Subcommittee Hearing