A proposed Securities and Exchange Commission rule would shut down the development of the digital asset industry and should be withdrawn, House Republicans said. A group of lawmakers in the House Financial Services Committee wrote to the SEC this week criticizing the proposed rule that they say could expand the definition of an exchange to…
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US House Financial Services Committee Chair Patrick T. McHenry plans to hold a vote on a bill that would regulate digital assets by mid July. The draft legislation in question, the Digital Asset Market Structure Discussion Draft, would classify cryptocurrencies as a security or a commodity and regulate exchanges among other measures…. Read More: House…
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House Republicans filed a bill on Monday that would fire US Securities and Exchange Commission Chair Gary Gensler and restructure the agency. Reps. Tom Emmer and Warren Davidson introduced the SEC Stabilization Act, to “remove Chairman Gensler following his long series of abuses that have been permitted under the current SEC structure,” according to a…
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The House Financial Services Committee under its Republican leadership has dropped a new version of its stablecoin bill after receiving feedback from its Democratic members. The bill, which is still a discussion draft, would regulate payment stablecoins specifically, and would allow state regulators to supervise stablecoin issuers, with federal regulators having a primary role by…
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New draft legislation is drumming up support among cryptocurrency advocates who cheered its focus on defining what constitutes a security versus a commodity. Republican lawmakers teamed up on Friday in the US House Financial Services Committee and the House Agriculture Committee on a discussion draft to regulate digital assets…. Read More: Draft Legislation From House…
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Republican lawmakers teamed up in the US House Financial Services Committee and the House Agriculture Committee on a discussion draft to regulate digital assets. The legislation, released on Friday, seeks clarity on when a digital asset would be considered a security and thereby regulated by the Securities and Exchange Commission, while creating a process on…
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US lawmakers are slated to discuss digital asset spot markets during a congressional hearing next week. The House Agriculture Committee will hold a hearing on June 6 titled “The Future of Digital Assets: Providing Clarity for Digital Asset Spot Markets.” The committee has jurisdiction over the Commodity Futures Trading Commission and has begun an effort…
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Rep. Maxine Waters is ushering in a draft bill to regulate stablecoins ahead of a House hearing this week. The California Democrat’s draft bill would “provide requirements for payment stablecoin issuers, research on a digital dollar, and for other purposes,” according to a committee memo for Thursday’s hearing. The bill would also require payment stablecoin…
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Top legal officers and a former regulator are slated to testify in front of US congressional committees on Wednesday to unpack digital asset regulation following ongoing tension between the industry and federal agencies. The House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion together with the House Agriculture’s Commodity Markets, Digital Assets and…
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A House Financial Services Committee panel together with a House Agriculture subcommittee plan to unpack digital asset regulation during a hearing next week. Both of those subcommittees’ digital asset focused subcommittees will jointly hold the hearing titled “The Future of Digital Assets: Measuring the Regulatory Gaps in the Digital Asset Markets” on May 10. … Read…
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