U.S. Lawmakers Amp Up the Heat on Crypto Regulation!

Hold onto your hats, crypto fans! U.S. lawmakers are cranking up the pressure to nail down some solid rules for the wild $2.7 trillion crypto world, and they're not messing around about keeping it all stateside.

The U.S. Congress is buzzing with a fresh surge to clear up the murky waters of crypto regulation. On April 9, the House financial services committee's subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence threw down with a hearing that had everyone on the edge of their seats. They're on a mission to sync up U.S. securities laws with the digital age, especially when it comes to those sizzling crypto assets.

House Financial Services Committee Chairman French Hill didn't hold back, praising the committee's "bipartisan efforts to bring clarity and stability" to the crypto scene. He's shooting for the stars, hoping to lock down some game-changing legislation by the end of 2025.

Chairman @RepFrenchHill kicked off the hearing with a bang, saying, "It is incumbent on us to build on that momentum and continue working toward a comprehensive regulatory framework that establishes clear rules of the road for digital asset markets." He's all in, ready to hear from the witnesses and team up with his colleagues to smash this out of the park this year!

The Committee's Got Big Plans for the SEC

Even though they've been throwing shade at the SEC, especially under Gary Gensler, the committee's not about to sideline them. Subcommittee chairman Bryan Steil made it crystal clear that the SEC's got a seat at the table when it comes to regulating token offerings.

Steil laid it out, "At the same time, the Committee feels strongly that there is a role for the U.S. Securities and Exchange Commission to play in the digital asset ecosystem. For example, the Committee believes that issuers raising capital through the sale of new digital assets should fall under the jurisdiction of the SEC." But don't get too excited—memecoins are still out in the cold, as the SEC under Gensler already ruled they're more like collectibles than securities.

Things got heated when Rep. Maxine Waters stepped up, slamming the committee for playing favorites with Donald Trump's crypto ventures, claiming they're setting him up to be the "crypto king."

This hearing is just the latest in a series of moves to bring some much-needed clarity to the U.S. crypto scene. Just look at May 22, when the U.S. House passed the Financial Innovation and Technology for the 21st Century Act with bipartisan support. The game is on, and it's getting real!