Can Congress Establish Regulatory Structure For Crypto Industry?

• A key congressional committee will vote on bills establishing crypto regulations this week.
• U.S. House Republicans introduced a bill for a regulatory framework on crypto exchanges.
• Bipartisan bill aims to strengthen KYC and AML regulations for DeFi with sanctions requirements.

On July 26, Reuters reported that this week, a significant congressional committee is scheduled to vote on several bills aimed at establishing a regulatory structure for crypto. Through this voting, Capitol Hill is taking a significant step to establish federal oversight of the digital asset industry.

On Thursday, U.S. House Republicans presented a bill focused on overseeing digital assets, with the primary objective of setting up a regulatory structure to safeguard investors within the crypto sector. The bill, which was initially drafted in early June, seeks to establish a clear regulatory framework for crypto exchanges. Its primary objective is to facilitate the registration process for these exchanges with the U.S. Securities and Exchange Commission (SEC). By doing so, these registered exchanges would gain the capability to trade digital securities, commodities, and stablecoins all w…

The post Can Congress Establish Regulatory Structure For Crypto Industry? appeared first on Coin Edition.