On Wednesday, July 26, 2023, The House Financial Services Committee voted on a set of crypto bills that could finally provide regulatory clarity to the domestic industry. Representative Patrick McHenry led 35 committee members to vote a resounding yes against 15 members in favor of the Financial Innovation and Technology (FIT) for the 21st Century Act and the Blockchain Regulatory Certainty Act. However, it wasn't without a fight.
PBN Research
Bills
https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=408940
The House Financial Services Committee passed six pieces of legislation out of Committee—many of which received bipartisan support—that provide robust consumer protections and legislative clarity for the digital asset ecosystem, as well as protect our national security. Included in this legislation is the FIT for the 21st Century Act, an unprecedented joint effort to bring digital assets into the regulatory perimeter, a historic step for American innovation and consumer protection.
US Senate Approves National Defense Bill that also Targets Crypto Mixers
The United States Senate passed the 2024 National Defense Authorization Act (NDAA) worth $886 billion on the evening of July 27. The bill includes a provision that targets crypto mixers, anonymity-enhancing coins and institutions that are engaging in crypto trading.
Crypto Bill Passes Congressional Committee in Victory for Industry
https://www.reuters.com/technology/us-congressional-committee-set-weigh-crypto-bills-2023-07-26/
A key congressional committee on Wednesday advanced a bipartisan bill that aims to develop a regulatory framework for cryptocurrencies, a milestone for Capitol Hill in its efforts to codify federal oversight for the digital asset industry.
The crypto industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies.