U.S.Lawmakers Seek Clear Crypto Rules
U.S. lawmakers are working to create clearer regulations for the $2.7 trillion crypto industry. On April 9,the House financial services committee held a hearing on crypto regulation. The aim is to update U.S. securities laws for the digital age, focusing on crypto assets.
House Financial Services Committee chairman French Hill praised the committee’s efforts to bring stability to crypto. He hopes for meaningful legislation by 2025. Hill emphasized the need for a comprehensive regulatory framework. “We must continue working toward clear rules for digital asset markets,” he said.
Chairman Hill believes in the committee’s bipartisan efforts. He wants to establish a framework that supports the crypto market. The goal is to align laws with today’s digital realities. Watch his remarks here.
Subcommittee Chairman Bryan Steil highlighted the SEC’s role in regulating token offerings. However, the SEC, under gary Gensler, faced some criticism. Still, the committee sees the SEC’s role in regulating token offerings.
Rep. Maxine Waters opposed the hearing. she accused the committee of favoring Donald Trump’s crypto ventures. Despite this, the hearing is part of a larger push for crypto regulation. On May 22, the U.S. House passed the Financial Innovation and Technology for the 21st Century Act with bipartisan support.
Key points include:
- Updating U.S. securities laws for the digital age
- Establishing a framework for digital asset markets
- Recognizing the SEC’s role in regulating token offerings
