The US House of Representatives intends to eliminate regulatory uncertainty with respect to digital assets and could develop corresponding legislation by the end of May.
The initiative is reportedly being promoted in the House of Representatives by Financial Services Committee Chairman Patrick McHenry and Agriculture Committee Chairman Glenn Thompson.
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They have started coordinating their efforts with Senators Kirsten Gillibrand and Cynthia Lummis. The latter is a member of the banking committee in the upper chamber of Congress.
The assumption is that new rules for the market structure of digital assets will eliminate the inconsistency of the principles of their work with current US securities and commodities legislation.
The talks are taking place against the backdrop of tough SEC and CFTC enforcement actions against industry participants.