Former Congressman: ”US should push ahead with 'cryptocurrency bill' instead of executive order”

According to News 1, former U.S. Congressman Wiley Nickel said he would push for legislation to regulate virtual currencies if he doesn't want to repeat the chaos he experienced at the Securities and Exchange Commission (SEC) under Gary Gensler.
In an interview with Cointelegraph on the 19th (local time), former Congressman Wiley Nickel said he was working on a "bipartisan" plan for a cryptocurrency regulation bill.
Wiley Nickel, former Congressman, stressed that legislation at the congressional level is necessary, rather than just dealing with executive orders.
All U.S. government policies related to virtual currencies, such as stockpiling cryptocurrencies as a financial asset and banning central bank digital currencies (CBDCs), are being implemented through executive orders.