Cryptocommittee may appear in the US House of Representatives. The corresponding initiative was made by the Republicans, according to the publication Politico.
This committee will be responsible for crypto regulation policy. Now the Financial Services Committee is looking into these issues, but it is failing because of the heavy workload of congressmen, its chairman Patrick McHenry said.
The Crypto Committee will actually work in tandem with or become part of the Financial Services Committee. He will consider options for legalizing digital assets and protecting investors.
The US authorities, represented by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), plan to accelerate the development of a regulatory framework for the crypto market in 2023.
The Cryptocommittee will be chaired by Republican French Hill, with Warren Davidson as his deputy.
Patrick McHenry emphasized:
We should be in charge of oversight and policy making for the new asset class.