• US Congress members have come together to create a clearer regulatory framework for digital assets.
• The House Financial Service Committee Chairman, Patrick McHenry, announced a series of joint hearings to address the US digital asset market structure.
• McHenry has mentioned support for Sen. Lummis’ Bipartisan Bill which seeks to protect consumers while encouraging innovation.
US Congress Members Team Up For Clear Digital Asset Regulations
The US crypto community has been calling for clarity in the regulatory framework from regulators like the SEC. But now, a group of top-level congress members have come together to create a clearer understanding of cryptocurrency regulations in the United States.
Joint Hearings Announced To Address US Digital Assets Market Structure
The House Financial Service Committee Chairman, Patrick McHenry, recently announced a series of joint hearings that will address the US digital asset market structure. This includes Congressman McHenry himself as well as Glenn Thompson (Chairman of the House Agriculture Committee), French Hill (Chairman of the Digital Assets, Financial Technology & Inclusion Subcommittee), and Dusty Johnson (Commodity Markets Digital Assets and Rural Development Subcommittee Chairman).
McHenry’s Speech at Consensus Event
At the Consensus event on April 28th, McHenry gave more information about the upcoming hearings that will take place in May. According to him, these hearings represent one of the first holistic views of digital asset regulation by the House committee. Additionally, he revealed plans to report a bill within two months which would deal with capital raising processes for digital assets as well as transitioning products from Securities regime to Commodities while preserving their rights in other areas outside these regimes.
McHenry Mentions Support For Sen. Lummis’ Bipartisan Bill
McHenry also mentioned his support for Senator Cynthia Lummis’ bipartisan bill which seeks to protect consumers while simultaneously encouraging innovation in both regulation and technology development when it comes to cryptocurrencies and blockchain-based technologies. The senator believes that this bill can help create an environment where crypto firms are able to thrive without fear of over-regulation or government interference.
Conclusion
Overall, it seems that Congress is taking up calls from crypto firms and investors for clarity on regulations regarding cryptocurrencies and blockchain-based technologies in order to create an environment where these sectors can flourish without fear of over-regulation or government interference – all thanks to Sen. Lummis’s bipartisan bill and other efforts from congress members such as McHenry and his team up with other house committees .
