White House, GOP Leaders Pledge Major Crypto Bills In First 100 Days

White House AI and Crypto Czar David Sacks joined key Republican lawmakers in pledging to pass major cryptocurrency bills within President Donald Trump’s first 100 days while hinting at the possibility of a federal Bitcoin reserve.

At a press conference Tuesday, Senate Banking Committee Chairman Tim Scott (R-SC) said he expects both major stablecoin and markets structure bills to pass by the end of President Donald Trump’s first 100 days, putting the deadline less than three months away, according to a report by Decrypt.

Republican chairs of the House Financial Services Committee, Senate Banking Committee, House Agriculture Committee, and Senate Agriculture Committee unveiled plans for a bicameral working group to coordinate with Sacks.

One of the many crypto bills on the docket, according to the lawmakers, is the GENIUS Act, introduced by Sen. Bill Hagerty (R-TN), which would require monthly audits of stablecoin issuers’ fiat reserves and impose criminal penalties for false reporting.

Stablecoins now represent a substantial share of the daily volume in digital asset exchanges. Because these tokens are commonly pegged to the U.S. dollar or other stable assets, reliable regulatory structures are seen by many as crucial to ensuring market stability.

Crypto has long been shunned by traditional financial institutions due to its unregulated nature, forcing many crypto companies to incorporate internationally in countries with a much clearer framework for operation.

Industry advocates have shown optimism that a clear legal framework might accelerate institutional partnerships between stablecoin providers and traditional financial institutions.

Sacks addressed this, saying, “Financial assets are destined to become digital … and we want that value creation to happen in the United States.”

Sacks also addressed rumors of a Bitcoin strategic reserve, given President Trump’s Monday executive order establishing a U.S. sovereign wealth fund, which often features Bitcoin in other countries.

Sacks deferred this question to the newly-announced bicameral crypto committee, saying that the sovereign wealth fund was “a little separate” from any consideration of a Bitcoin reserve, but left open the possibility of further White House action on the matter.