U.S. House Committees Release Draft for Comprehensive Crypto Regulation
The U.S. Congress is advancing a legislative framework for regulating digital assets, aiming to provide regulatory clarity and oversight. Key points include:
- The House Financial Services Committee and House Agriculture Committee released a discussion draft of the bill.
- Representative French Hill stated the legislation can deliver much-needed regulatory clarity.
- Chairman Glenn "GT" Thompson emphasized consumer protection and innovation in the proposed framework.
- A joint hearing on the future of digital assets will take place where this draft will be discussed.
- The draft outlines public disclosure requirements for crypto projects and capital-raising procedures under SEC or CFTC supervision.
- The bill seeks to clarify jurisdictional lines between U.S. regulators overseeing digital assets.
- This proposal builds upon the previous Financial Innovation and Technology for the 21st Century Act (FIT21).
- Stablecoin regulation efforts are also ongoing, with bills having advanced through committees and awaiting further consideration.
- Leading crypto lobbying organizations urged Senate action on the GENIUS Act for stablecoins.