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The United States House Votes on Several Digital Assets Bills

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Another big victory for the cryptocurrency community, driving lawmakers for more regulatory clarity, is on the horizon.

Following the landmark ruling of XRP Judge Analisa Torres, the crypto space has been experiencing its big day.

At present, the United States House Financial Services Committee is to markup multiple bills that can regulate digital assets.

READ ALSO:XRP Community Hush Those that Hate Judge Analisa Torres Judgment In Ripple Vs SEC Case

In Brief

  • According to reports from a reliable news outlet, there will be a revised cryptocurrency bill that the United States House Republicans will introduce. This bill aims to regulate digital assets, foster innovation, position the United States as a worldwide leader in finance and technology, and protect consumers.
  • The United States House FSC (Financial Services Committee) is preparing to markup the following cryptocurrency bills, H.R 4763, H.R. 1747, the “Financial Innovation and Technology for the 21st century Act”, the H.R. 2969, and the “Blockchain Regulatory Certainty Act”, the “Financial Technology Protection Act of 2023.”
  • With these bills, there will be a concrete definition of when a cryptocurrency is a commodity or a security. It also establishes the pattern for regulating stablecoins and clarity over the United States Securities and Exchange Commission (SEC) and CFTC oversight and jurisdiction.
  • The procedure for the markup will be by a full vote of the House Representatives. It will then be forwarded to the Senate led by the Democrats, who now endorse it for a regulatory structure for cryptocurrency in the United States.
  • John Deaton, a pro-XRP lawyer, declares that Democrats and Republicans must recognize cryptocurrency regulations to safeguard customers, holders, and users of digital assets.
  • Deaton further says that the CFTC and Securities and Exchange Commission must concentrate on fraud, pump, manipulation, and dumps instead of regulating through enforcement.

What’s Happening in Crypto Today?

As of this writing, the price of Bitcoin is at$29,181.09, with an increase in market cap by 0.18% and a decrease in trading volume by 14.11%.

Ethereum, on the other hand, is trading at $1,852.52 with a decrease in market cap by 0.02% and a reduction in trading volume by 11.89%.

  • Meanwhile, Tether is trading at $1.00 with a decrease in market cap by 0.00% and a reduction in trading volume by 2.06%.
  • Bitcoin Cash is presently trading at $235.55 with an increase in market cap by 0.52% and a decrease in volume by 15.41%
  • Shiba Inu is trading at $0.000007821 with an increase in market cap by 0.32% and an increase in trading volume by 2.25%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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