- Congressional Finance Committee Chairman Patrick McHenry
- He intends to submit the bill after July 11
- The Democratic leader on the committee has already said she has concerns about the bill.
- And he could introduce a licensing regime and lay the foundation for the regulatory framework
House Financial Services Committee Chairman Patrick McHenry intends to introduce a bill on cryptocurrencies. This initiative is intended to begin the process of developing a comprehensive regulatory framework for the CA industry in the United States.
This is stated Reuters with reference to the statement of the politician himself:
“I intend to get the Committee to amend some form of this bill when we get back to work on July 11.”
McHenry and a number of other Republicans introduced the bill earlier this month. It is aimed at forming clear rules and clarifying the powers of regulators in the crypto asset market.
Something similar was previously proposed by Senators Lummis and Gillibrand, but did not receive support in Congress. In this case, the situation is somewhat different, since McHenry chairs the Industry Committee.
In the future, this bill may even introduce a licensing regime for virtual asset service providers (VASPs). But it’s too early to talk about it.
For example, Committee Democratic leader Maxine Waters said she “has concerns” about the bill. And given the past attempt to “push through” the stablecoin initiative, the blue bill will be sent for revision with a light hand.