US Congress Takes Action on Crypto Regulation with Testimonies and New Bill

Coinbase, Robinhood, and representatives from the CFTC are set to testify before Congress on June 6 to discuss a newly proposed crypto bill that could see certain crypto tokens classified as digital commodities. The proposed bill is part of a push to provide a statutory framework for digital asset regulation intended to provide clarity, fill regulatory gaps, and foster innovation, while providing adequate consumer protections. Coinbase's Chief Legal Officer, Paul Grewal, will testify in support of the proposed bill, calling for a clear rulebook in the US to achieve the full promise of crypto.