Senior Republicans in the US House of Representatives have released a draft of legislation that reclassifies cryptocurrencies as commodities.
The Digital Asset Market Structure Proposal was submitted by the Chairman of the House Financial Services Committee, Patrick McHenry, and the Chairman of the House Committee on Agriculture, Glenn “GT” Thompson.
Digital Asset Market Structure Proposal
The bill seeks to address several regulatory issues facing crypto and provide clarity for the industry. It also enables innovation and seeks to protect American crypto consumers.
Speaking on the bill, McHenry said:
“Our goal is to strike the appropriate balance between consumer protection and encouraging responsible innovation.”
McHenry urged market participants and stakeholders to provide constructive feedback to help improve the legislation.
Thompson corroborated McHenry’s statements, adding that the bill would help close the
