Last week, the United States took a step closer to regulatory clarity for its crypto industry. In a 35–15 vote, the House Financial Services Committee (FSC) approved the Financial Innovation and Technology for the 21st Century Act. The bill is intended to establish rules for crypto firms on when to register with either the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission (SEC).
Meanwhile, the bipartisan Blockchain Regulatory Certainty Act, sponsored by Republican Representative Tom Emmer and Democratic Representative Darren Soto, also passed a vote in the FSC. It aims to set guidelines removing hurdles and requirements for “blockchain developers and service providers” such as miners, multisignature service providers and decentralized finance platforms.