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Home Tech Crypto Congress passes digital asset innovation act to clarify crypto regulations

Congress passes digital asset innovation act to clarify crypto regulations

Document Analysis NLP IA

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redaction

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it's an affirmation
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Summary (IA Generated)

1602 was among six bipartisan financial services-related bills passed by Congress on Tuesday with the McHenry-sponsored legislation focusing on regulatory clarity for cryptocurrencies.

Introduced back in March, the bill seeks to clarify the roles of agencies like the Securities and Exchange Commission and the Commodity Futures Trading Commission in the policing of cryptocurrencies in the U.

“ requires the Securities and Exchange Commission and the Commodity Futures Trading Commission to establish a working group focused on digital assets.

”#BREAKING: The House just passed 6 bipartisan Financial Services bills, including Ranking Member @PatrickMcHenry’s Eliminate Barriers to Innovation Act.

Following the approval of the bill, Congress now has 90 days to establish the working group among participants from the SEC, CFTC, and the private sector.

The private sector participants will draw from fintech and financial services companies as well as small and medium scale enterprises and academia.

Once constituted, the working group will have a year to issue a report analyzing the current crypto regulatory climate.

S.

continues to be a source of some frustration among industry stakeholders in the country.

Some industry insiders have argued that the U.


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