New Crypto Pointer at the US Treasury says Stablecoin Law is a good first goal

WASHINGTON, D.C. — Within hours of the announcement that he had started as a crypto counselor for Treasury Secretary Scott Bescent, former Galaxy Digital Attorney Tyler Williams was working on a private digital asset event in Washington, D.C.

Working on Stubcoin’s policy “as collaborative as possible with our Congressional friends,” Williams advised participants at the Chain Link Host event, arguing that getting those backbone dollar-induced tokens into a legal position was a “very good example” for Washington’s industry allies to push. “If we can put regulatory wrappers around it in a way that allows state and bank regulators and all ecosystems to live in the same rulebook, I think that would be pretty good for DC.”

Meanwhile, Williams, who worked as a regulatory lawyer for Galaxy, showed that he had actually been in the role for several weeks, saying that “the fact that I’m working for the US Treasury” is a great indication for the industry.

“We really went round the corner,” said Rep. Brian Steele, a Wisconsin Republican who is currently at the helm of the House Financial Services Committee’s Digital Assets Subcommittee, at the same Wednesday evening event.

Lawmakers said the US needs to “beat other parts of the world” when it comes to nurturing digital assets, and he said dozens of Democrats “continue to grow” the bipartisan energy that supports the Crypto Market Structure Act of the last session, 21st Century Act financial innovation and technology (FIT21).

It came as a welcome emotion for Sergey Nazarov, the co-founder of Chainlink. He said he saw “very productive thinking” in Washington.

Williams refers to a work led by David Sacks, a code-czar appointed by President Donald Trump, and says, “We see every part of the puzzle moving in one direction. This is to promote US leadership on digital issues.”

He said agencies such as the Securities and Exchange Commission and Commodity Futures Trading Commission are already driving new initiatives, but he said “our hands are full” within the department.

Many aspects of the Ministry of Finance’s jurisdiction are across the industry, including tax policy, sanctions, money laundering monitoring, and the Financial Crime Enforcement Network (FINCEN), but the team is “keeping to tackle this issue.”

“I think they’re excited by the prospect of a refreshing view from the government,” said Williams, who marks the second stint in the division he worked there during Trump’s first term.

Read more: Stablecoins take the central stage at the Senate’s first Digital Assets Subcommittee hearing