- The parties will discuss the bill “On the structure of the digital assets market”
- It was submitted to Congress on June 2
- The bill aims to form a regulatory framework for the industry
- Major industry counterparties support him
Today, June 6, the U.S. House of Representatives Committee on Agriculture will hold hearings on digital asset rulemaking. Among the invited experts are the head of the legal department of Coinbase, a representative of Robinhood and the head of the CFTC.
The center of the hearings will be bill “On the Structure of the Digital Asset Market” by McHenry-Thompson. The bill was introduced to Congress on June 2.
The bill is intended, among other things, to form a regulatory framework for the industry. It can, albeit with a stretch, be called an analogue of MiCA. The bill will provide space for innovation, but also the necessary protection for investors.
Further approval of the initiative largely depends on the outcome of the hearings in the Committee. Representatives of Coinbase and Robinhood, announced among the invited experts, generally support him.
Paul Grewal, head of the legal department at Coinbase, called the bill a “smart move”:
“We need a clear set of rules in the US to realize the full potential of cryptocurrencies. Until rules and laws are developed that reflect the realities of this new market, we will not be able to fully unlock the promise of our financial system, making it faster, fairer and more accessible.”
He also confirmed the thesis announced earlier by the company’s CEO that the United States is at risk of “missing its chance.” Delay in the process of creating a regulatory framework for the digital asset market threatens the country with missed opportunities.