Representative Patrick McHenry, chair of the House Financial Services Committee (FSC), announced revised legislation aimed at providing regulatory clarity to the digital asset ecosystem.
The Commission, inter alia, HR 4763, Financial Innovation and Technology for 21st Century Law; HR 4766, Payment Net Stablecoin Act of 2023; and HR 1747, Blockchain Regulatory Certainty Act.
Among them, mark A statement has been made by McHenry about the clarity of payments in stablecoins, in order to bring more regulatory transparency to the issuance of stablecoins intended to be used for payments.
Like stated In the circular issued on July 21, HR 4763 establishes a framework for the digital asset market structure in line with the unique characteristics of digital assets. HR 1747 saves blockchain developers from having to obtain licenses unless they are dealing with cryptocurrencies.
#NEW: President @PatrickMcHenry announced a legislative overhaul to bring clarity to the digital asset ecosystem and address national security concerns.
Read more https://t.co/kb2smj24io
— Financial Services GOP (@FinancialCmte) 22 July 2023
Marking date announced one day later entrance US Representative French Hill, chair of the Digital Assets Subcommittee, on Financial Innovation and Technology for 21st Century Law. declaration The definition of a functional regulatory framework makes it possible to protect investors from financial fraud.
“This law would not only prevent FTX from stealing billions of customer funds, but would also create strong consumer protections and clear rules for market participants.”added.
Meanwhile, the United States Department of Justice (DoJ) has decided to double its staff. Team dedicated to crypto crime.
Two DoJ teams: the Computer Crime and Intellectual Property Division (CCIPS) and the National Cryptocurrency Enforcement Team (NCET) will merge to create a larger structure with additional new resources.
As each CCIPS attorney can be assigned to an NCET case, the number of attorneys in the criminal division will “more than double”.