The House Financial Services Committee approved last Wednesday the Innovation Bill, which aims to regulate crypto companies in the United States.
The majority of the committee members voted in favor of the bill, which would need to be further changed and improved before it can be passed by Congress.
Commissioner Hester M. Peirce, often referred to as the “Crypto Mom” by the industry, expressed her desire for the government to legalize the blockchain sector and prevent the stifling of businesses within it.
According to this legislation, digital asset issuers should register their tokens as either securities or commodities with the Commodity Futures Trading Commission and the Securities and Exchange Commission respectively.
Although the bill has been approved by the committee, many from both sides of Congress have shared their concerns and called for its refinement.
