Crypto’s Future at Stake: House Hearing Sparks Urgent Regulation Debate

U.S. Lawmakers Seek Clear Crypto Rules

U.S. legislators are working to create clearer regulations for the $2.7 trillion crypto industry. On April 9, the House financial services committee held a hearing on crypto regulation. The aim is to update U.S. securities laws for the digital age, especially for crypto assets.

House Financial Services Committee Chairman French Hill praised the committee’s efforts to bring clarity and stability to crypto. He hopes for meaningful legislation by 2025. “We must continue working toward a comprehensive regulatory framework,” hill said. “This will establish clear rules for digital asset markets.”

Despite some criticism, the committee supports the SEC’s role in regulation. Subcommittee chairman Bryan Steil noted that the SEC should regulate token offerings. Though, memecoins may not fall under SEC jurisdiction, as they are seen more as collectibles.

Rep.Maxine Waters opposed the hearing, accusing the committee of favoring Donald Trump’s crypto ventures. The hearing is part of a broader push for crypto regulation. On May 22, the U.S. House passed the Financial Innovation and Technology for the 21st Century Act with bipartisan support.