- Voting will be held in the second week of July
- Congress plans to debate two new laws
In July, the U.S. House of Representatives Financial Services Committee plans vote on new cryptocurrency legislation. The goal is to establish a clearer process for the transition of digital assets from the category of securities to the category of goods, as well as to create a regulatory framework for regulating stablecoins.
The Chairman of the House Financial Services Committee, Patrick McHenry, announced the intention to meet to discuss the new bill. It is also possible to promote laws that will create a more transparent path for the transition of digital assets from the category of securities to commodities, while with less reporting and regulation requirements.
He also added that for the bill to become law, the support of Democrats in the Senate and the signature of President Joe Biden are needed. In addition, Henry worked with French Hill to develop another piece of legislation to create a comprehensive regulatory framework for stablecoins.
During the July session, members of the committee will have the opportunity to amend the text of the bill, and the final version will be subject to a vote “for or against” for a positive decision of the committee. Once the bill is moved from the committee, it will be voted on in full session of the House of Representatives.