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Crypto advocates are ramping up calls for clearer digital asset regulations as the U.S. looks to regain its competitive edge under President Donald Trump's administration.

Lawmakers and industry leaders are pushing for a regulatory overhaul, arguing that the country risks falling behind global counterparts with more defined crypto policies.

On Tuesday, the House Financial Services Committee’s Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee will convene a hearing titled "A Golden Age of Digital Assets: Charting a Path Forward."

Key figures in the crypto space, including Jose Fernandez da Ponte from PayPal, Jonathan Jachym of Kraken, and Harvard’s Timothy Massad, are expected to testify.

Ji Hun Kim, president and acting CEO of the Crypto Council for Innovation (CCI), is urging Congress to take swift action, emphasizing that the European Union, the UK, Japan, and Singapore are already advancing with clear regulatory structures.

In his written testimony, Kim outlines four priorities: comprehensive market structure legislation, stablecoin regulations, improved coordination between the SEC and CFTC, and policies that support decentralized finance and individual empowerment.

Coy Garrison, a partner at Steptoe law firm, is also advocating for a policy shift. He noted that U.S. agencies like the SEC, CFTC, and FDIC are trying to reverse restrictive policies from the Biden era to lure crypto businesses back to the country. Garrison is calling for Congress to step in and provide oversight for spot market digital asset trading while clarifying the SEC’s jurisdiction.

“The timing is right for Congress and the administration to work together on a much-needed regulatory framework for digital assets in the U.S.,” Garrison stated.

He also urged lawmakers to withdraw legal actions against exchanges such as Coinbase, Binance, and Kraken, arguing that regulators should instead develop clear registration pathways for digital asset firms.