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We still do not know which regulatory body will have jurisdiction and control over various types of assets.
A new committee of the U.S. House of Representatives on digital assets, fintech and inclusion unveiled its plans to make stable regulation its top priority. Addressing the Commission President on Thursday, rep. French Hill said that the committee has a great deal of work to do and that it should pass a number of laws. This will include the adoption of federal privacy legislation, which he says is also very vital to the digital future of financial services in this country. This includes the passage of federal privacy legislation, which he believes is also critical to the country's digital future of financial services.
Nevertheless, Hill says regulating stablecoin easily at the top of their bucket list.
Hill: The Committee will build on existing regulations on housing. The Chair of the Commission also recognized the breadth of regulation in Canada with respect to safe drinking water. He also admits that many efforts – in terms of bills – have already been made in stablecoins and cryptography in general.
To that end, Hill says that the committee hopes to learn from past legislation and that it will move forward, working hand in hand with regulators. Remember that the financial services of the house ex-president Maxine Waters and then rank member patrick Henry also a bill stablecoin. The long-awaited bill, which had two components, is aimed first at clarifying the issue of stability monitoring.
As of November, blockchain analytics company Chainalysis compiled a list, suggesting that at least, 20 crypto-related bills were before the US Congress.
Issue of Oversight
Meanwhile, it remains unclear which regulator will have jurisdiction and control over what type of assets. In November, blockchain analysis company Chainalysis compiled a list, suggesting that at least 20 invoices related to cryptography were before the American Congress.
The question of versionIn the meantime, we still do not know which regulatory body will have jurisdiction and control over what kind of assets. And hill is confident that the new committee should be able to sort the debate between the securities and exchange commission () and the commodity futures trading commission () this year.to achieve this, it says that the committee will work with the agriculture and banking committees of the House and the Senate and with the financial services committee of the House. However, he also recognizes that it will all be a matter of clarity and accuracy.
However, it also recognizes that the focus will be on the clarity and accuracy of the information.
