House GOP working on plan to overhaul cryptocurrency regulation

House Republicans AWe are currently working on an overhaul of the regulation cryptocurrency.

Republicans at the House Financial Services Committee I have recently drafted smaller regulatory bills, however, Rep. French Hill (R. AR), who is the head of Digital Assets Subcommittee. told Politico The team plans to move much further in the next few months.

BACKERS OF MAJOR CRYPTOCURRENCY REPORTEDLY FALSIFIED DOCUMENTS TO ACCESS BANKS

“We’re working on a comprehensive regulatory framework that goes beyond the bills,” Hill spoke. “We’re going to spend March and April in a significant effort on listening to stakeholders in the digital assets arena [and] considering other legislative proposals. So that’ll be our principal work plan for the next two months.”

Hill has not specified what type of regulatory framework she and Hill propose.

The hearing featured testimony by Paul Grewal (Coinbase Chief Legal Officer) The In prepared remarksHe called for a regulation framework to protect consumers and embrace the sector.

“Crypto is a technology that makes the existing financial system work better. But the benefits, such as enabling faster and cheaper payments or settling in real-time, require laws and rules that reflect a new way