A bill to set out a regulatory regime for U.S. cryptocurrency markets will finally get a vote from the overall House of Representatives, said Rep. Patrick McHenry.
The House Rules Committee approved the legislation for a vote next month, potentially pushing it toward a high-water mark for crypto legislation in the U.S., with the entire House of Representatives set to vote on whether to approve it soon, according to Rep. Patrick McHenry , the chairman of the House Financial Services Committee.
"With the floor vote announced today, Congress will take a historic step to provide a clear regulatory framework for digital asset markets," McHenry said in a statement."This legislation will cement American leadership of the global financial system for decades to come and bolster our role as an international hub for innovation."
Though it's a mark of progress to get legislation that far in a highly partisan and combative Congress, the bill is unlikely to find parallel action in the Senate – which is needed for Congress to fully approve legislation and send it to the president to sign into law. That chamber hasn't yet done high-level work on a similar effort, though lawmakers there recently showed some willingness to find a path for another crypto effort: a bill to regulate the issuers of stablecoins.