fbpx

Next week, the US House will vote on two groundbreaking bills related to cryptocurrency.

Exciting developments are on the horizon next week, with the US House of Representatives gearing up to make critical decisions on two groundbreaking bills, H.R. 5403 and H.R. 4451. These bills carry the potential to redefine the regulations surrounding digital currencies and securities in the United States, ushering in a new era in financial governance.

Legislation on Crypto Regulation

In the spotlight is H.R. 5403, also known as the CBDC Anti-Surveillance State Act, which proposes stringent constraints on the Federal Reserve’s involvement in digital currencies. This bill aims to block the issuance of Central Bank Digital Currencies (CBDCs) directly to individuals and to prevent the use of CBDCs for monetary policy execution. By thwarting the Department of the Treasury from mandating a CBDC issuance, the bill aims to safeguard citizens from potential financial oversight and dominance.

 

The ramifications of this bill are vast as it reinforces the boundaries between governmental entities and consumer financial products. By limiting these capabilities, the bill advocates for a more decentralized approach to digital currency, free from federal surveillance and influence.

 

Simultaneously, H.R. 4451, the Securities Clarity Act, seeks to redefine the concept of securities. This bill provides a clear exemption for investment contract assets from being classified as securities for regulatory purposes, thereby impacting the treatment and classification of cryptocurrencies under federal law and potentially lightening the regulatory burden on crypto enterprises.

 

Don’t Miss: Exciting Update from Michael Saylor on Bitcoin’s Bullish Momentum above $67K!

 

The lucidity of this bill is anticipated to stimulate innovation and investment within the crypto realm by offering a transparent regulatory structure. It aims to dispel uncertainties surrounding the classification and handling of digital assets.

Bipartisan Support for Crypto Oversight

These legislative endeavors come on the heels of the US Senate’s recent decision to enact the repeal of Staff Accounting Bulletin 121 (SAB 121), showcasing a bipartisan approach to digital currency and asset regulation. Additionally, influential bodies such as the Crypto Council Innovation (CCI) and leading entities like Coinbase and Gemini have voiced their support for another related bill, the Financial Innovation and Technology for the 21st Century Act (FIT 21).

 

FIT 21 sets forth a holistic regulatory framework for digital assets overseen jointly by the Commodity Futures Trading Commission (CFTC) and the SEC. This act places emphasis on safeguarding customers through measures such as fund segregation, risk disclosures, and conflict of interest regulations, fostering stability and transparency in the digital asset market.

Don’t Miss: XRPL Startup XPMarket’s Token Swap Amid Distribution Error!


🚀 Ailtra Crypto Bot Earned $13.4M Million in 11 Months with 0% Loss!

🚀 Ailtra generated $13.4M in 11 months only!

Unlock 15-55% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 15th Aug: an AI Crypto Bot boasting 15%-55% monthly gains and $13.4M earnings in 11 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,500 spots are available in first phase – claim yours fast! 🔥

Ailtra.ai will not disclose your account information to any 3rd parties.