Regulation
Path Open for US House of Representatives to Consider Crypto Regulation Bill, Says McHenry – DL News
- Financial Services Committee Chairman says the way is clear for House vote.
- The bill aims to clarify regulations for digital assets.
- If the bill passes the House, the fate of the Senate is unclear.
McHenry says House of Representatives will vote on crypto regulation
The House Rules Committee will consider the Financial Innovation and Technology for the 21st Century (FIT21) Act, paving the way for a possible floor vote, according to North Carolina Congressman Patrick McHenry, chairman of the House Rules Committee. financial services of the Chamber.
FIT21 aims to clarify regulations for digital assets, the House Financial Services Committee said in a statement. Press release.
The bill would establish clear and functional federal requirements on digital asset markets. According to the Financial Services Committee, it would also provide the consumer protections and regulatory clarity necessary for the development of the digital assets ecosystem in the United States.
McHenry said: “For too long, the U.S. digital asset ecosystem has been plagued by regulatory uncertainty that has stifled innovation and left consumers unprotected. …This comprehensive market structure legislation is the culmination of years of bipartisan efforts to finally provide clarity.
The bill, which was also approved by the House Agriculture Committee, was introduced last July.
McHenry plans to retire at the end of his current term.
The legislation gives the Commodity Futures Trading Commission new jurisdiction over digital commodities and clarifies the Securities and Exchange Commission’s jurisdiction over digital assets offered as part of an investment contract, according to the press release.
If the bill comes to a vote in the House as planned, it would be the first time such crypto legislation has advanced this far. If FIT21 passes the House, its fate in the Senate appears less certain.
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Nonetheless, the bill represents a real step toward greater regulatory clarity for digital assets in the United States.
Crypto market players
- Bitcoin is down 3.30% today at $61,034.83.
- Ethereum is down 4.00% today at $2,922.99.