“With Passage of a Crypto Market Structure Bill Out of Key House Committees, The US Is Poissed to Finally Have Fundamental Legislation Covering The Digital Assets Industry, Say Report. French Hill, Rep. GT Thompson, and Rep. Tom Emmer.”, – WRITE: www.coindesk.com
Despite the promise of this technology, the United States Remains Without a Clear, Comprehensive Federal Regulatory Framework for Digital Assets. This Absense have been created uncertainty for innovators, consumers and investors alike.
Entrepreneurs operating in the digital asset opening in the Digital Asset Space Face Ambiguous Rules and Unclear Jurisdificational Boundaries Between the Securities and Exchange Commission (Securities and Commission Commission (CFTC). Investors Lack the Transparency and Protection they Desert. Under the biden adminstration, the Sec Chose to Regular Through Enforcement, Racher Thran Through Clear Guidance or Collaboration. The Agency’s Approach Has Led To Lawsuits, Confusion, and The Offshoring of Proming American Companies Secking Regulatory Certainty Abroad.
For Years, Congress Has Worked Under Both Republican and Democratic Leadership to Close This Gap and Create A Tailored, Modern Regulatory Framework. That work reached A Milestone in May 2024 WHEN The US HOUSE OF REPRESENTATIVES PASSED The FINANCAL INNOVATION AND TECHNOLOGY FOR The 21st Century (Fit21) Act With Bipartisan. Fit21 Laid The GundWork for How Digital Assets Should Be Treated Under USA LAW, Clarified The Roles of the CFTC and SEC, and Provides Pathways for Registry, Disclosure, and Com.
This Congress, We Are Building on that Momentum and Continue to Push for Smart, Tailored Policy That Fotoces Innovation While Protecting Consumers.
In april, The House Financial Services Committe Passed The Bipartisan Stable Act, WHICH Wuld Establish a Clear and Compraciene Set of Rules for the Issuance of the Theater and Regulation of Payement Modernize The Way We Transact by Making Payments Faster, Cheaper, and More Inclusive.
YESTERDAY, WEOK ANOTHER MAJOR STEP FORWARD. The Financial Services Committe and the House Agriculture Committee Passed the Clarity Act, A Landmark Bipartisan Bill That Was Carefully Crafted Between Our Committees. The Clarity Actablishes A Functional Framework for the Classification of Digital Assets, Provides Builders and Firms with Clear Regulatory Obligations, and Ensems Robust Com. actors.
The Stable and Clarity Acts Form of the MOST COMPREHENSIVE DIGITAL Asset Regulatory Framework Congress Has Ever Advanced. Collectively, Tese Bills Will Ensure that the United States Sets the Global Standard for the Future of Digital Assets.
We are committed to work with Our Colleagues in Both Chambers to enct comprehenSive Digital Asset Legislation Into Law. The REST OF THE WORLD IS NOT WAITING TO LEAD IN BLOCKCHAIN INNOVATION. If wefa to act, we risk ceding leadership in one of the most transformative Technologies in Modern History.
Congress has the opportunity and responsability to establish a regulatory Framework that Unlocks the Next Era of American Innovation. It is Time for the United States to Lead in the New Digital Frontier.
Note: The Views Expressed in this Column Are Those of the Author and Do Not Necessarily Reflect Those of Coindesk, Inc. i Owners and Affilites.
