SEC's DeFi Crackdown Sparks Congressional Action and Industry Debate
TL;DR
The US House Committee on Financial Services will hold a hearing on SEC oversight, with SEC Chair Gary Gensler as the star witness, while the Subcommittee on Digital Assets, Financial Technology and Inclusion will take up draft legislation relating to stablecoins. The draft bill includes extensive definitions, establishes requirements at the federal and state level to issue stablecoins, and sets up standards for interoperability, reporting, and enforcement. The legislation also calls for a two-year moratorium on new stablecoins until a study can be completed by the US Treasury.
Topics:businesscryptocurrency-regulation#cryptocurrency-exchanges#cryptocurrency-regulation#digital-assets#sec#stablecoins#us-congress
- U.S. Congress to Tackle SEC Oversight, Stablecoin Legislation Decrypt
- SEC Advisory Group Supports Gensler's Crypto Efforts but Requests Industry Guidance CoinDesk
- SEC Commissioner Criticizes New Exchange Act Targeting DeFi BeInCrypto
- SEC’s Hester Peirce Says Gensler’s Plan to Target DeFi Undermines First Amendment Decrypt
- DeFi Under Fire: SEC's Intensified Crackdown Sparks Controversy Bitcoinist
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