The great Crypto show in the United States Congress has been presented in the form of a draft discussion of the legislation that would establish for the first time an integral internal regime to regulate digital assets.
The Chamber Financial Services Committee and the Chamber Agriculture Committee, both that share the responsibility of the assets of the jurisdiction that they leave, published a work draft of a bill on Monday that representative French Hill, president of the Financial Services Panel, can deliver “very necessary regulatory clarity.”
“Today marks the first step to advance in a comprehensive framework that protects consumers, encourages innovation and closes the regulatory gaps in supervision,” said Representative Glenn “GT” Thompson, president of the Agricultural Committee, who has a supervision of the Commercial Commerce Commission that will probably have an important role in the supervision of the crypto. “It will give digital developers and users the certainty they need and have asked.
On Tuesday, the digital assets subcommittees of both committees of the House of Representatives will hold a joint hearing on the future of digital assets, where the discussion draft will be under the center of attention.
The draft details the public disseminations that cryptographic projects should do. It also provides digital asset developers to raise capital under the stock and securities commission clock, or to register with the CFTC to handle digital products trade.
The bill is finally destined to establish “clear lines” between the jurisdictions of the two regulators of US markets, a question that has been a thorn on the side of American cryptographic businesses.
This proposed format for the long -awaited cryptographic legislation, based on a first similar effort called Financial Innovation and Technology for the Law of the 21st Century (FIT21) that advanced through the Chamber last year, arises when industry allies in Congress have been working urgently in a separate legislative effort to regulate stamps. Stablecoin’s bill and the market represent the main lobbying effort for cryptography in the US.
Stablecoin’s bills have already advanced through the Chamber and Senate committees and are waiting for the consideration of the general chambers.
Three of the main cryptographic lobbying organizations issued a joint statement on Monday that urged the Senate to continue the debate for its version of the Stablecoin bill, the National Innovation Law for National Innovation for the United States (Genius). The leaders of the Blockchain Association, the Crypto Council for Innovation and the Digital Chamber requested support from the Senate to “approach one more step to the promulgation of a stablecoin bipartisan framework.”
Read more: the United States Senate moves towards action in the Stablecoin bill
Update (May 5, 2025, 16:43 UTC): Add a declaration of cryptographic groups on Stablecoin legislation.
