US congressional committee set to weigh crypto bills

A key congressional committee is set to vote this week on several bills that would develop a regulatory framework for cryptocurrencies, a milestone for Capitol Hill in its efforts to codify federal oversight for the digital asset industry. The crypto industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies. Among the legislation the House Financial Services Committee is scheduled to consider are a bill that would define when a cryptocurrency is a security or a commodity. The legislation is brought to a vote, paving the way for a full vote by the House of Representatives.

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