The chairman of the House Financial Services Committee, Representative Patrick McHenry, plans to introduce a comprehensive bill that outlines clear rules for the cryptocurrency industry. Regulating crypto products has been a hot topic among Republicans and Democrats as the Securities and Exchange Commission argues that most major crypto products are securities and should be registered. While McHenry has taken the initiative to lead this regulatory effort, Democrats on the panel are still considering the measure, with top Democrat, Representative Maxine Waters, worried that crypto exchanges receiving provisional registration could allow bad actors.