The Republican Party of the United States announced the establishment of a cryptocurrency task force in both the House and Senate

ChainCatcher news, according to Cointelegraph, U.S. House Financial Services Committee Chairman French Hill announced that four House and Senate committees will form a "bicameral working group" to advance the digital asset framework and stablecoin legislation.

The working group will include the House Financial Services Committee, the House Agriculture Committee, the Senate Banking Committee, and the Senate Agriculture Committee. Hill stated that the working group plans to reintroduce the "21st Century Financial Innovation and Technology Act" with "modest modifications" during the 119th Congress.