US Congress will hold hearings on creating a regulatory framework for cryptocurrencies

The House of Representatives is already working on a bill to structure the market for digital assets

31.03.2025 - 16:10

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What’s new? The Digital Assets Subcommittee of the US House Financial Services Committee will hold a hearing on April 9 on creating a federal regulatory framework for cryptocurrencies. As FOX reporter Eleanor Terrett notes, the hearing, titled “American Innovation and the Future of Digital Assets: Aligning the U.S. Securities Laws for the Digital Age,” will be the first public attempt by the new Congress to set rules for the crypto industry.

Source: X.com

What else is known? While market structure legislation has not yet been introduced in Congress, sources said that the House of Representatives is already working on a new version of the document.

This update builds on the Financial Innovation and Technology for the 21st Century Act (FIT21), which passed the House of Representatives last May, as well as the Responsible Financial Innovation Act, introduced in June 2022 by Senators Cynthia Lummis (Republican of Wyoming) and Kirsten Gillibrand (Democrat of New York)

Both bills aim to establish clear guidelines and rules for participants in the crypto industry.

Last week at the Digital Chamber Blockchain Summit in Washington, D.C., House Financial Services Committee Chairman French Hill (Arkansas Republican) already announced that the House is preparing to release revised draft market structure legislation in the coming weeks.

In addition, the House Financial Services Committee will next week discuss the Stablecoin Act, known as STABLE, which is the counterpart to the GENIUS bill introduced in the Senate.

Previously, House members Tom Emmer and Ritchie Torres launched a bipartisan coalition to advance cryptocurrency legislation that is already pending.

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