A bill to control the digital currency market has been introduced in Congress for consideration.
The authors of the documents are House Republicans. It should be noted that Patrick McHenry and Glenn Thompson have been involved in its development.
The crypto sector and the expert community often criticize Congress for being slow to legalize the blockchain industry.
For example, Circle CEO Jeremy Allaire said in April that if US authorities are slow or prefer to introduce repressive mechanisms against market participants, companies will go to other countries.
The bill introduced by Thompson and McHenry gives regulatory powers to the Securities and Exchange Commission (SEC). The regulator will register crypto exchanges and will be able to classify digital currencies, i.e., include some of them in the category of securities.
In addition, the SEC will be able to control the circulation of stablecoins in the US market.