Ripple and Coinbase lawyers meet

As cryptocurrencies continue to disrupt the financial world, U.S. lawmakers are considering how to regulate them. A promising bill could redefine the regulatory landscape for cryptocurrency by confronting the Securities and Exchange Commission (SEC) with a new challenge.

A step towards regulatory clarity

The desire to establish a clear framework for crypto is materializing in the United States. The House Financial Services Committee and Agriculture Committee are proposing legislation that could consider certain tokens as “digital goods” if they are decentralized.

This legal framework could bring better regulatory clarity to crypto-asset companies. Moreover, it challenges the SEC’s current approach.

This legislation could bring better regulatory clarity to crypto-asset businesses. In parallel, it clearly calls into question the current approach taken by the SEC.

So these companies could offer “digital commodities and payment stablecoins.”

A challenge to the authority of the SEC

At the heart of the debate is criticism of the SEC’s lack of clarity when it comes to regulating cryptocurrencies.

The bill proposes that certain digital assets, if functional and decentralized, qualify as digital goods. Additionally, it requires the SEC a detailed analysis in the event of opposition to this classification.

The law also involves a change in SEC rules, allowing brokers to hold digital assets under certain conditions. It further asks the SEC to modernize its digital asset regulations.

The future of this bill remains uncertain, despite the enthusiasm of some key players in the cryptocurrency industry. While Congress remains divided on the issue, this bill could well be a crucial step towards more transparent and crypto-friendly regulation.

Meanwhile, amid the heated debates in the US Congress, a wave of revolt is being felt against the potential establishment of a central bank digital currency (CBDC) by the Federal Reserve. Legislators, worried, see in this prospect a direct threat to civil liberties.

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