Crypto regulations are coming to the US House of Representatives in two weeks. The goal is to finally provide legal clarity for digital assets and blockchain-based payments in the United States.
Congressman Says Key Crypto Regulations Will Clarify Digital Assets and Stablecoin Oversight
While speaking during a recent Fox News interview, shared on X, Congressman French Hill announced that two major bills on crypto regulations will be introduced. The first bill is the Clarity Act. It outlines how investors, brokers, and entrepreneurs can legally operate in the crypto space.
According to Hill, who chairs a key committee on financial services, many people are unsure of what is allowed. Currently, there are no clear rules on using blockchain for payments or building crypto-based businesses.
The Clarity Act is designed to define the structure for digital asset markets. It will also help protect people from accidental violations of US law. Hill emphasized that these crypto regulations will reduce confusion and offer a path forward for legitimate innovation.
The second bill ( the GENIUS Act) aims to regulate dollar-backed payment tokens. In addition, these tokens, which are central to crypto finance, lack federal oversight. The new crypto regulations will lay out how stablecoins should be issued, managed, and supervised.
Hill Says New Bills Key to Keeping Crypto Innovation in the US
The congressman believes this step is necessary to preserve America’s strength in global finance. With finance shifting toward blockchain-based models, effective crypto regulations can help the U.S. lead the digital transition.
He also highlighted that today’s crypto environment is stuck in a grey zone. Companies don’t know what counts as a security or which agency to report to. Users also face uncertainty about taxes and risks. That’s why comprehensive crypto regulations are essential.
Hill’s committee has worked on these bills for months, aiming to fix these issues. He says the timing is right to push the new crypto regulations forward, as demand for clear rules continues to grow.
Crypto developers and investors have long called for legislative action. Hill believes that these crypto regulations will prevent projects from moving overseas. Also, they could form the foundation for US crypto policy for years to come.
Meanwhile, the US house will discuss these two bills in addition to the Anti-CBDC Surveillance State Act. This follows the announcement of a crypto week that will begin on July 14 and end on July 18.
Paul
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others.
He holds a degree in Geophysics from OAU, Nigeria. When he’s not writing, he loves watching soccer and reading educative journals.
He can be reached via [email protected]
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