Representatives French Hill and Dusty Johnson, who respectively chair subcommittees on Digital Assets, Financial Technology and Inclusion and Commodity Markets, Digital Assets, and Rural Development, have joined other lawmakers in criticizing SEC Chair Gary Gensler's approach to digital asset regulation. In a letter to Gensler, they suggested that legislation would be a more effective approach than the SEC's current position of "regulating by enforcement".

The lawmakers also questioned the timing of certain SEC actions and referenced a recent summary judgement affecting crypto regulation. Lawmakers in the House Financial Services Committee are considering a draft market structure bill aimed at clarifying the roles of the SEC and Commodity Futures Trading Commission in regulating crypto.