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Bryan Steil: “What really differentiates the US economy right now from our…”

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

Discussion on US Regulatory Framework for Blockchain and Stablecoins with French Hill and Bryan Steil

Published May 5, 2025 | Video Starts at 10:54

If we get this right, it sets us up to be able to out compete the rest of the world. And if we jump back again to this analogy of web2. What really differentiates the US economy right now from our peers, Western Europe, Japan, Korea, et cetera, is we got web2 correct. We domiciled the world's largest tech companies, and we're the beneficiaries of that, from wealth creation and retirement accounts, pension funds, as well as jobs. (10:54–11:02)

CLAIM

Asserts that the US economy's strength is due to successfully implementing Web2.

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 to make sure that we get the regulatory framework right in the United States.”
Discussion on US Regulatory Framework for Blockchain and Stablecoins with French Hill and Bryan Steil | Uploaded May 5, 2025 | 02:49-02:54
“We're trying to do [this] under the leadership of Chairman French Hill... putting forward that legal framework for two key pieces of…”
Discussion on US Regulatory Framework for Blockchain and Stablecoins with French Hill and Bryan Steil | Uploaded May 5, 2025 | 03:54-04:06
“One is market structure. And I think we'll have an opportunity to be introducing draft text on that in the not too distant future.”
Discussion on US Regulatory Framework for Blockchain and Stablecoins with French Hill and Bryan Steil | Uploaded May 5, 2025 | 04:05-04:11
“The Stable act... addresses the legal framework for stablecoins.”
Discussion on US Regulatory Framework for Blockchain and Stablecoins with French Hill and Bryan Steil | Uploaded May 5, 2025 | 04:13-04:18
“If you look and say when it was first introduced, maybe it was 80% similar. As we've come closer, we're probably 90, 95% similar.”
Discussion on US Regulatory Framework for Blockchain and Stablecoins with French Hill and Bryan Steil | Uploaded May 5, 2025 | 04:38-04:46
“The good news is, is there's real appetite and energy to do that.”
Discussion on US Regulatory Framework for Blockchain and Stablecoins with French Hill and Bryan Steil | Uploaded May 5, 2025 | 04:50-04:54
“If you look at the Stable act, when it passed through the Financial Services Committee, six Democrats joined with us in moving that ahead.”
Discussion on US Regulatory Framework for Blockchain and Stablecoins with French Hill and Bryan Steil | Uploaded May 5, 2025 | 04:54-05:03
“I think that opens an opportunity for a large bipartisan vote on the House floor and in the Senate markup.”
Discussion on US Regulatory Framework for Blockchain and Stablecoins with French Hill and Bryan Steil | Uploaded May 5, 2025 | 05:02-05:09
“If we get this right, it sets us up to be able to out compete the rest of the world.”
Discussion on US Regulatory Framework for Blockchain and Stablecoins with French Hill and Bryan Steil | Uploaded May 5, 2025 | 10:48-10:52
“We domiciled the world's largest tech companies, and we're the beneficiaries of that, from wealth creation and retirement accounts, pension…”
Discussion on US Regulatory Framework for Blockchain and Stablecoins with French Hill and Bryan Steil | Uploaded May 5, 2025 | 11:01-11:11
“If we get this right on the context of Web3, and if you believe, like me, that that's where we're headed, we're in a position to continue…”
Discussion on US Regulatory Framework for Blockchain and Stablecoins with French Hill and Bryan Steil | Uploaded May 5, 2025 | 11:10-11:19
“You have to get this right, which is why the regulatory framework that we're working on is so important.”
Discussion on US Regulatory Framework for Blockchain and Stablecoins with French Hill and Bryan Steil | Uploaded May 5, 2025 | 11:18-11:23