Crypto Bill Advances Out of House Agriculture Committee

A fewer hours aft opening statement and voting connected amendments to the bill, which would make a national regulatory model for crypto successful the U.S., the House Agriculture Committee referred the measure to the afloat House of Representatives by a dependable vote.

Lawmakers debated a fig of amendments to the bill, including provisions connected lawsuit disclosures and plus absorption protections.

In opening comments, committee Chair Glenn Thompson (R-Pa.) noted that Congress has been moving connected crypto authorities for years.

"We learned that existent national laws and regulations supply fewer rules of the roadworthy for those who privation to prosecute with these emerging technologies, starring to analyzable enforcement actions by regulators and creating further disorder successful the manufacture and market," helium said.

The House Agriculture Committee ballot followed a daylong markup session successful the House Financial Services Committee, which voted to beforehand the measure Wednesday nighttime alongside a fig of different crypto-focused pieces of legislation.

The House Financial Services Committee besides met again Thursday to statement stablecoin legislation.

However, the House Agriculture Committee markup sharply contrasted with the verbal scrum down the hallway successful the Financial Services Committee Thursday. While the Financial Services Committee saw Democrats reason for much clip to enactment connected the measure and shouting connected the floor, the Agriculture Committee worked done assorted amendments, adopting proposals from some Democrats and Republicans.

The proceeding besides ended good earlier that of the Financial Services Committee.

"Did we bash amended than Financial Services?" Thompson joked aft the extremity of the session.