Sunday, June 1, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

US House to vote on digital asset bill giving CFTC greater power

Simon Osuji by Simon Osuji
June 23, 2023
in Crypto
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

A U.S. House of Representatives committee formulating digital asset laws will vote on two ‘crypto’ bills in early July. The two bills seek to clearly define regulations for the sector, with the Commodity Futures Trading Commission (CFTC) set to emerge as the big winner in the digital asset regulations race with the Securities and Exchange Commission (SEC).

Rep. Patrick McHenry (R-NC), chairman of the House Financial Services Committee, confirmed that the two bills would undergo debating, amending, and a vote on the second week of July.

McHenry, one of Washington’s most ardent digital asset supporters, drafted the legislation earlier this year. The North Carolina legislator partnered on the initiative with Rep. Glenn Thompson (R-PA), the chair of the House Agriculture Committee, under which the CFTC falls.

For months, Glenn has been pushing for the CFTC to take a bigger role in digital asset oversight. Last year, he introduced the Digital Commodity Exchange Act of 2022, which gives the CFTC jurisdiction over most digital assets. It relegated the SEC to digital assets that fall under the securities category.

As one news outlet reveals, CFTC’s date with destiny is inching closer. In an oversight hearing with Federal Reserve chairman Jerome Powell, McHenry announced that his committee plans on diving into the ‘crypto’ bill in early July.

Aside from the CFTC oversight bill, the committee will debate a draft bill that lays out a comprehensive regulatory framework for stablecoins.

During the July sessions, committee members can suggest amendments to the two bills. The debate will culminate in a vote, and if the bills sail through, they will face a vote on the floor of the House.

According to Sen. Cynthia Lummis (R-WY), the two bills have a better chance in the House of Representatives than in the Senate, where party politics will likely play a big part.

“We have tried to keep partisan tinge off this subject. This is a bipartisan subject we need to address before the 2024 election,” the senator said earlier this year.

Lummis is a digital asset supporter who  introduced a bill last year to offer the industry regulatory clarity.

Watch: US Congressman Patrick McHenry on Blockchain Policy Matters

YouTube video

width=”560″ height=”315″ frameborder=”0″ allowfullscreen=”allowfullscreen”>

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

Source link

Related posts

Conor McGregor doubles down on an Irish strategic Bitcoin reserve, tags Nayib Bukele ‘let’s chat’

Conor McGregor doubles down on an Irish strategic Bitcoin reserve, tags Nayib Bukele ‘let’s chat’

June 1, 2025
Sui community approves release of $162M in tokens frozen during Cetus hack

Sui community approves release of $162M in tokens frozen during Cetus hack

May 31, 2025
Previous Post

KenTheMan Is BOSSIP Sound’s Fresh Face Friday Artist

Next Post

International Labour Conference adopts new apprenticeship standard, among other key decisions

Next Post
International Labour Conference adopts new apprenticeship standard, among other key decisions

International Labour Conference adopts new apprenticeship standard, among other key decisions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

First-ever study of wartime deepfakes reveals their impact on news media

First-ever study of wartime deepfakes reveals their impact on news media

2 years ago
Learning how to control HIV from African genomes

Learning how to control HIV from African genomes

2 years ago
Tom Brady Responds As His Mom’s CVS Photo Mixup Goes Viral

Tom Brady Responds As His Mom’s CVS Photo Mixup Goes Viral

1 year ago
One contractor is on the Space Force’s naughty list

One contractor is on the Space Force’s naughty list

6 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.