House Republicans Introduce Bill That Aims to Bring Regulatory Clarity to Crypto

U.S. lawmakers introduced legislation on Thursday aimed at dispelling a cloud of regulatory uncertainty that looms large in the digital assets industry. The 212-page bill titled the Financial Innovation and Technology for the 21st Century Act seeks to establish a “much-needed regulatory framework” for the digital asset space. The bill seeks to establish new definitions, covers digital asset exemptions, and outlines a path for digital asset intermediaries like cryptocurrency exchanges to register with both the SEC and the CFTC. Digital asset issuers would be required to abide by a new disclosure regime under the rules.

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