©Reuters. President of the US FSC aims for regulatory transparency for ecosystems of cryptocurrencies and stablecoins
Rep. Patrick McHenry, chair of the House Financial Services Committee (FSC), announced revisions to legislation aimed at providing regulatory clarity to the digital asset ecosystem. The committee will meet on July 26 to discuss, among others, HR 4763, the Financial Innovation and Technology for the 21st Century Act; HR 4766, the Clarity for Payment Stablecoins Act of 2023; and HR 1747, the Blockchain Regulatory Certainty Act. Among them, the stablecoin payment clarity markup was introduced by McHenry, with the aim of bringing greater regulatory transparency to the issuance of stablecoins intended to be used for payments.
Extract from the FSC’s agenda on cryptocurrency regulation for July 26. Source: house.gov As noted in the memorandum issued July 21, HR 4763 establishes a framework for digital asset market structure tailored to the unique characteristics of digital assets. HR 1747 saves blockchain developers from having to acquire licenses as long as they are not dealing in cryptocurrencies.
#NEW: President @PatrickMcHenry announces legislation overhaul to provide clarity to digital asset ecosystem and address national security concerns.
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