The House Financial Services and Agriculture Committee leaders published a discussion draft outlining a federal crypto framework to regulate the industry in the US on May 5.
House Financial Services Chairman French Hill (R-AR), Agriculture Committee Chairman Glenn “G.T.” Thompson (R-PA), Financial Services Subcommittee Chair on Digital Assets Bryan Steil (R-WI), and Agriculture Subcommittee Chair on Commodity Markets Dusty Johnson (R-SD) released the draft legislation.
The lawmakers emphasized the bill’s role in coordinating regulatory responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) while introducing legal definitions for key terms in blockchain and crypto markets.