According to The Block, sources familiar with the matter revealed that French Hill, chairperson of the House Financial Services Committee, and others are expected to release a draft regulation regarding cryptocurrencies ahead of a hearing to be held on May 6 (local time). The hearing will be held at 10 a.m. ET on the 6th with the theme "American Innovation and the Future of Cryptocurrencies: A Blueprint for the 21st Century". Discussions are expected to focus on long-awaited legislation to define the structure of the crypto market in the United States. The draft is expected to be similar to the 21st Century Financial Innovation and Technology Act (FIT 21) passed by the House of Representatives last year. A staff member of the House Agriculture Committee also confirmed that the draft text will be released before the hearing.
House and Senate committees have moved forward with stablecoin-focused bills, while legislation to regulate the entire cryptocurrency industry is seen as the next step. President Donald Trump has said he wants to see a stablecoin bill by August, but some say the bills could be interconnected.
Sources: The US House of Representatives will unveil a draft cryptocurrency regulation before a hearing on May 6
2025-05-02 00:27:40
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