The Republican bill also outlines a process for firms to certify with the SEC that their projects are adequately decentralized which would allow them to register digital assets as a digital commodity with the CFTC.
Republican Congressman, French Hill, who also serves as the Vice-Chairman of the House Financial Services Committee said he was proud the bill had passed its first hurdle, and that it had been passed by the committee with bipartisan support. "We have crafted landmark legislation that establishes robust consumer protections and clear rules of the road for market participants while keeping innovation in the United States."
Meanwhile, the bipartisan “Blockchain Regulatory Certainty Act” led by Republican Congressman Tom Emmer and Democratic Congressman Darren Soto,to set out guidelines that remove hurdles and requirements for “blockchain developers and service providers” such as miners, multi-signature service providers and decentralized finance platforms.
Republican Representative Tom Emmer praised the passing of the Blockchain Regulatory Certainty Act as a"huge win" for the United States.@FinancialCmteThis is a huge win for the United States as we are one step closer to putting Americans in the driver’s seat in crafting the future peer-to-peer digital economy.
FinancialCmte On July 26, the majority of U.S. lawmakers voted in favor of the Financial Innovation and Technology for the 21st Century Act as well as the Blockchain Regulatory Certainty Act.
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