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Bryan Steil: “Senator Haggerty who also serves in Senate banking…”

Featuring: Bryan Steil, Republican | U.S. House, Wisconsin, District 1

U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America.

Published February 27, 2025 | Video Starts at 02:15

So just stage set is in particular the digital assets, the stablecoin bill. Inside that space, French Hill and I have introduced a discussion draft. Senator Haggerty who also serves in Senate banking introduced his legislative tax about 80% similar some changes that we'll have to go through to get there. We can talk about that. And then a market structure bill you saw last Congress fit 21 come forward. (02:15–02:26)

CLAIM

Asserts that Senator Haggerty introduced a legislative text similar to the stablecoin bill.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Bryan Steil

“We have a huge opportunity as the political landscape has changed to really move forward and embrace blockchain technology web3 in crypto…”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 00:31-00:43
“The exciting part is after four long years of the Biden administration with Gary Gensler at the SEC and Elizabeth Warren with a louder voice…”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 01:22-01:42
“We're going to have better regulators under the Trump administration that are forward thinking, that are embracing this technology.”
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“President Biden put forward regulators, they're really hostile to crypto, to blockchain, and in particular the United States.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 03:10-03:19
“If you have Gary Gensler come in and say, here's how I'm going to differentiate security from a non security. He was pushing people into say…”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 03:24-03:35
“It stifled the area of innovation, where we wanted capital to be deployed.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 03:53-03:58
“It further pushed things offshore.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 04:02-04:05
“You'd see fit 21amarket structure bill come before the House. You have a compromise bill between Maxine waters and Patrick McHenry. It…”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 04:29-04:48
“I think what you'll see is a growing bipartisan support inside this space because in many ways it's nonpartisan in nature.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 06:06-06:15
“70 Democrats joined us showing you, showing that there's broad bipartisan interest in this space.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 06:34-06:41
“There weren't enough consumer protections in place [for FTX], but also a recognition that there were decisions and policy decisions made…”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 07:17-07:28
“How do we put forward a regulatory framework that's actually encouraging companies to onshore?”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 07:29-07:35
“You see that in the stablecoin legislation. Right. I mean that this is really an opportunity to increase people's confidence in the space.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 08:55-09:03
“Blockchain technology in many ways allows you that full visibility right across the globe.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 10:03-10:09
“The benefits to the US Dollars being the world reserve currency is an additional benefit in that regard [of stablecoins].”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 11:03-11:12
“There's core reasonable safeguards for consumers. Yes. But what I really want to see is that innovation development occurring in the United…”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 12:20-12:31
“The federal government is built to be reactive.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 14:58-15:04
“We're being slightly reactive in a timeline sense, but I think we're being proactive of putting a framework in place [for the stablecoin…”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 15:19-15:26
“Often following a crisis, you're before a full understanding as to why that crisis occurred.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 15:32-15:38
“You can often put forward regulations that don't actually address the previous crisis, but put roadblocks and impediments in to future…”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 15:40-15:50
“This legislation is one of the very unique areas where I think you could see broad support across both parties.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 16:43-16:50
“I serve as chairman of the committee on administration for the House, which oversees federal election law.”
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“In utilizing blockchain technology to enhance security, to enhance transparency, I think there's actually a fascinating use case in that…”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 17:42-17:48
“There's going to be and should be significant investment in this space [real estate] and someone, somebody in the private sector is going to…”
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“The American consumer is going to win as transaction costs have an opportunity to come down dramatically.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 19:12-19:20
“There's a real opportunity to increase Americans' confidence in maybe countries across the globe on the election side.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 19:28-19:36
“French Hill and I have introduced a discussion draft [of the digital assets, the stablecoin bill].”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 21:32-21:42
“We put out our discussion draft on stablecoins.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 21:38-21:42
“We're discussing where fit21, the market structure bill will go.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 21:41-21:46
“We know we have a very new political landscape.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 21:45-21:48
“The Digital Chamber has been a good partner.”
U.S. Representative Bryan Steil and Sergey Nazarov on the Future of Blockchain Technology in America. | Uploaded February 27, 2025 | 22:22-22:24