Cryptocurrency Invoice to Be Voted on in U.S. Congress for First Time This Week

The U.S. Home of Representatives Monetary Providers Committee will vote this week on a number of payments that might create a regulatory framework for cryptocurrencies.

This could be a milestone in Capitol Hill’s efforts to codify federal laws for the digital asset trade.

The laws the committee plans to contemplate features a invoice that might outline when cryptocurrencies are securities or commodities, and one other invoice that might set up a system to control stablecoins.

It might be the primary time a cryptocurrency regulation invoice has been put to a vote in Congress and a victory for cryptocurrency lobbyists.

It stays to be seen, nevertheless, whether or not the payments will garner assist from Democrats, whom many consider shall be essential to their eventual passage into regulation.

The measures might additionally face obstacles within the Democratic-led Senate, the place Senate Banking Committee Chairman Brown stated he was uncertain whether or not extra laws to control cryptocurrencies could be essential.