The U.S. House of Representatives will release a cryptocurrency regulatory draft before the hearing on May 6

2025-05-02 08:36:01

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ChainCatcher news, according to The Block, informed sources revealed that French Hill, the chairman of the House Financial Services Committee, and others are expected to release a regulatory draft on cryptocurrency ahead of the hearing scheduled for May 6 (local time).

The hearing will take place at 10 AM Eastern Time on the 6th, with the theme "The Future of American Innovation and Cryptocurrency: A Blueprint for the 21st Century." It is expected to focus on the long-awaited legislation to define the structure of the U.S. cryptocurrency market. The draft is anticipated to be similar to the "Financial Innovation and Technology for the 21st Century Act" (FIT 21) that passed the House last year. A staff member from the House Agriculture Committee also confirmed that the draft text will be released before the hearing.

Committees in both the House and Senate have advanced bills focused on stablecoins, while legislation regulating the entire cryptocurrency industry is seen as the next step. Former President Donald Trump stated that he hopes to see a stablecoin bill before August, but some have indicated that these bills may be interconnected.

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