#FTXRefunds ✳️XRP, DOGE, and ETH will be "digital products" under new law in the United States

The U.S. Congress received the proposal to regulate the cryptocurrency industry, ending the uncertainty that has existed for years. The initiative, presented on Thursday by the Financial Services and Agriculture Committees of the House, aims to establish a clear regulatory framework for digital assets in the country, a priority topic in Washington, closing the cycle of uncertainty that has persisted for years for the industry. The new category of digital products would encompass "any token linked to a blockchain and used to transfer value".

This reduces the possibility that the SEC will classify cryptocurrencies as securities. Additionally, it introduces the optional designation of "mature blockchain system" for decentralized projects, such as Bitcoin, which is open-source and without a dominant controlling entity. Now, the House Financial Services Committee has scheduled a hearing on the new text of the law for June 4, with a review hearing planned for June 10, marking the next steps in the path of this potentially transformative legislation for the cryptocurrency sector in the United States. With this legislation, the country seeks to lead the revolution of digital assets, promoting an innovative environment for the financial future.