US congressional committee set to weigh crypto bills : compa

US congressional committee set to weigh crypto bills

A key congressional committee is set to vote this week on several bills that would develop a regulatory framework for cryptocurrencies, a milestone for Capitol Hill in its efforts to codify federal oversight for the digital asset industry. Among the legislation the House Financial Services Committee is scheduled to consider are a bill that would define when a cryptocurrency is a security or a commodity and another that would establish a regime to oversee stablecoins - digital tokens typically backed by traditional assets like the U.S. dollar. The markups - where legislation is debated and brought to a vote, paving the way for a full vote by the House of Representatives - are the first time crypto regulatory bills will be put to a vote in Congress, a victory for crypto lobbyists that have pushed lawmakers to provide regulatory clarity for the industry.

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