Bipartisan Crypto Clash: U.S. and EU Arm for Digital Finance War

House Financial Services Committee Chairman French Hill (R-AR) and Rep. Vicente Gonzalez (D-TX) led a bipartisan delegation to Europe from August 20 to 28, 2025, engaging in high-level discussions with officials in Italy, Switzerland, and Germany. The primary focus of the trip was to foster collaboration on digital asset policy, regulatory frameworks, and monetary policy, while reinforcing transatlantic economic partnerships amid global geopolitical tensions, including Russia’s ongoing invasion of Ukraine. The lawmakers emphasized the importance of aligning U.S. and European financial policies to address emerging threats and opportunities in the global financial system [1].

During the visit, Hill and Gonzalez held discussions with key financial leaders and regulators, focusing on the expanding market for digital assets, particularly tokenization and stablecoins. The delegation briefed European counterparts on developments in the U.S., including the recent passage of the GENIUS Act, which has catalyzed a wave of innovation in stablecoin issuance. The House delegation emphasized the necessity of a secure yet innovative financial system that supports both economic stability and national security interests [2].

In response to growing U.S. influence in digital finance, the European Central Bank (ECB) is reportedly considering a central bank digital currency (CBDC) powered by a public blockchain. This move aims to counter the potential dominance of U.S.-issued stablecoins in the European market. The ECB has been testing various payment use cases and integration strategies for a digital euro, with over 70 organizations participating in the development process. While the ECB has not yet made a formal decision, the exploration of public blockchain technology reflects a strategic shift toward enhancing accessibility and competitiveness.

The delegation’s efforts underscore the increasing intersection between economic policy and national security, particularly in light of Russian aggression. Hill stressed the importance of a robust transatlantic partnership in addressing financial risks and fostering innovation. The discussions also touched on the development of new financial products and the potential for tokenization to reshape traditional financial systems. The bipartisan nature of the delegation highlights the U.S. Congress’s commitment to maintaining a unified approach in shaping the future of global financial governance.

Rep. Gonzalez highlighted the significance of cross-Atlantic cooperation, noting that the trip was a step toward ensuring that financial systems remain secure and conducive to innovation. He also shared a notable personal encounter with Pope Leo XIV, emphasizing a broader message of collaboration. The visit not only reinforced economic ties but also contributed to the broader dialogue on the future of digital finance. Gonzalez expressed optimism about continuing bipartisan efforts with Chair Hill and Committee Ranking Member Maxine Waters to advance legislative priorities, including those relevant to his constituents in South Texas.

The delegation’s trip has broader implications for the future of financial regulation and international cooperation. As the U.S. and Europe continue to refine their approaches to digital assets and monetary policy, the discussions initiated during the tour may lay the groundwork for more comprehensive transatlantic agreements. The urgency for such coordination has increased with the rapid expansion of stablecoin markets and the growing use of digital currencies in global transactions. By aligning regulatory frameworks and leveraging technological advancements, both regions aim to shape a financial landscape that is both secure and resilient.

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[1] Chairman Hill Leads Bipartisan Delegation to Europe