On July 26, the majority of U.S. lawmakers voted in favor of the Financial Innovation and Technology for the 21st Century Act as well as the Blockchain Regulatory Certainty Act.
The House Financial Services Committee approved the Financial Innovation and Technology for the 21st Century Act in a 35-15 vote which would establish rules for crypto firms on when to register with either the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission (SEC).
The Republican bill also outlines a process for firms to certify with the SEC that their projects are adequately decentralized which would allow them to register digital assets as a digital commodity with the CFTC.
Meanwhile, the bipartisan “Blockchain Regulatory Certainty Act” aims to set out guidelines that remove hurdles and requirements for “blockchain developers and service providers” such as miners, multi-signature service providers and decentralized finance (DeFi) platforms.
TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.
Policy and Regulation
