The #US has advanced a #crypto bill to help establish a much more clearer regulatory framework for the crypto industry. #CryptoRegulation The post US Crypto Bill Advances, Clear Regulatory Framework on the Horizon appeared first on Crypto News Land.
- The US advances crypto bill advances leading to possible clear regulatory framework.
- Bipartisan vote would need first congressional approval.
- While the bill may face Senate challenges, it is still a huge leap for the crypto industry.
A bipartisan vote in favor of the bill marks the first time a crypto regulatory bill is advanced in Congress. This moves gives hope to the crypto industry for increased regulatory clarity. Despite Democratic support, some members, including Representative Maxine Waters, oppose the bill, claiming it creates confusion and offers fewer protections for consumers and investors.
Cryptocurrency companies have been operating in a regulatory gray area, but the SEC has been asserting its authority, considering most cryptocurrencies as securities subject to investor protection rules.
Lawmakers are also to consider another bill that would have the Federal Reserve issue stablecoin requirements while preserving state regulators’ authority. Modifications were made to address concerns about oversight evasion.
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