Regulation must go through Congress for lasting change — Wiley Nickel

Crypto regulations indispensable beryllium enacted done an enactment of Congress to go imperishable and meaningful pieces of legislation, according to erstwhile Congressman Wiley Nickel.

In an exclusive video interrogation with Cointelegraph's Turner Wright, Nickel urged bipartisan collaboration to propulsion done broad crypto regulations. The erstwhile Congressman added:

"I deliberation it's truly important for anybody who cares astir this contented to measurement backmost and recognize that if you privation lasting alteration successful Washington, you indispensable determination authorities done Congress. Otherwise, if you're talking astir enforcement orders, it volition conscionable spell backmost and forth.”

“You don’t privation to person the messiness that we saw conscionable months agone with Gary Gensler’s SEC — you request to get authorities done Congress,” Nickel reiterated.

President Trump’s Jan. 23 enforcement bid establishing the Working Group connected Digital Assets, which besides prohibited the improvement of a cardinal slope integer currency (CBDC), and the bid establishing a Bitcoin strategical reserve alongside a abstracted crypto stockpile, were some examples of enforcement actions that tin beryllium reversed astatine a aboriginal date.

Former Congressman Wiley Nickel is pictured sitting 2nd from the near astatine the Blockworks Digital Asset Summit. Source: Cointelegraph

Related: Congress connected way for stablecoin, marketplace operation bills by August: Blockchain Association

Both chambers of Congress unreserved to propulsion done meaningful legislation

Rep. Tom Emmer, the bulk whip of the United States House of Representatives, reintroduced authorities banning a CBDC successful the US connected March 6.

Wyoming Senator Cynthia Lummis besides reintroduced the Bitcoin Act successful March, which builds upon an earlier measure of the aforesaid rubric but allows the US to acquisition much than 1 cardinal Bitcoin (BTC).

Senator Lummis’ Bitcoin Act of 2025. Source: Senator Cynthia Lummis

Rep. Byron Donalds precocious announced that helium would draught authorities to codify the Bitcoin strategical reserve into instrumentality — shielding President Trump’s archetypal enforcement bid from being overturned by a aboriginal administration.

On March 12, the House of Representatives repealed the IRS broker rule requiring decentralized concern platforms to study accusation to the Internal Revenue Service successful a 292-131 vote.

Speaking astatine this year’s Blockworks Digital Asset Summit, Democrat Rep. Ro Khanna said that Congress should beryllium capable to pass broad crypto regulation successful 2025, including a stablecoin measure and a marketplace operation bill.

Magazine: SEC’s U-turn connected crypto leaves cardinal questions unanswered