US House Sets to Hold Hearing on April 9 to Tackle Market Structure Legislation

The United States (U.S.) House of Representatives is set to hold a hearing on Wednesday, April 9. The hearing will examine the market structure of digital assets. This hearing marks a significant step towards establishing a federal regulatory framework for the crypto industry.

On the day of the hearing, the House Financial Services Committee’s Digital Assets Subcommittee will discuss establishing a federal regulatory framework for digital assets. The focus will be “The Future of American Innovation and Digital Assets: Adjusting U.S. Securities Law for the Digital Age.”

U.S. House to Hold Market Structure Hearing 

This hearing is part of a broader effort to provide clarity and oversight to the crypto industry, which has grown to $2.7 trillion in the United States. The proposed legislation aims to establish clear rules for the crypto market, including the structure of digital asset exchanges and the regulation of initial coin offerings (ICOs).

Furthermore, the upcoming hearing should mark a significant milestone in the development of cryptocurrency regulation in the United States. As the crypto industry continues to grow and evolve, we will likely see further efforts to establish clear rules and regulations for the market.

Stages Involved in the Proposed Legislation

The proposed legislation on digital asset regulation will proceed through several stages before becoming law. The House of Representatives introduced the bill and completed its first reading. Next, a committee will study the bill clause by clause. During this stage, legislators can propose and debate amendments.

After the committee concludes its study, it will report the bill to the House for a report stage. At this point, legislators can propose and debate further amendments.

If the bill passes the report stage, it will undergo a third reading and a vote. If it passes, the House will send it to the Senate for consideration. The Senate will review the bill and may propose amendments. If it passes the Senate, the bill will return to the House for final approval. Once the House and Senate have passed the bill, they will send it to the Governor General for royal assent, the final step before it becomes law.