A House Financial Services Committee panel along with the House Agriculture Subcommittee plans to unpack digital asset regulation during a hearing next week.
The digital assets-focused subcommittees of those two subcommittees will jointly hold a hearing on May 10 titled “The Future of Digital Assets: Bridging Regulatory Gaps in Digital Asset Markets.”
The hearing comes after two top US regulators – the Securities and Exchange Commission and the Commodity Futures Trading Commission – have been vocal about bad actors in crypto through enforcement actions and hearings on Capitol Hill.
The Subcommittee on Digital Assets, Financial Technology and Inclusion, led by Republican Representative French Hill of Arkansas, will participate along with the House Agriculture’s Commodity Markets, Digital Assets and Rural Development Subcommittee.
Republican Representative Dusty Johnson of South Dakota leads that agriculture subcommittee.
where is bill
Rape. Patrick McHenry, who leads the House Financial Services Committee, said during a Consensus 2023 conference call last week that a new bill Will be introduced in the next two months.
Late last year, McHenry and then-Chairman of the House Financial Services Committee Maxine Waters, D-Calif., worked on a stablecoin bill that fell through.
However, last month a hearing seemed reveal some cracks in that partnership.
During that hearing, McHenry said that a draft bill released in April after talks with Waters should be the foundation of the federal structure.
Despite this, Waters stated that he and McHenry never completed negotiations and that the most recent draft should be disregarded.
“So let me just say, the bill posted is in no way a recommendation for final work on stablecoins negotiated between the two of us,” Waters said,
“And so, I think we are starting from scratch to deal with stablecoins. We should deal with it. We should get a stablecoin bill. I think we can do that, but that bill disregard what has been posted in its entirety,” he added.
It comes in the form of a sensor. Cynthia Lummis, R-Wyo., and Kirsten Gillibrand, Dn.Y. plans to introduce a revised version of the Responsible Innovation Act this spring, according to blockworks,
The lawmakers said that the bill would be more detailed and clarify the definitions when defining tokens.
Lumis and Gillibrand were the first to introduce the bill. june,
The pair tasked the CFTC with oversight of the most popular cryptocurrencies, as well as addressing stable coins and taxes.
