This Congressman wants crypto to be governed by federal law, not executive agencies' orders.
In a letter to the leadership of the United States House Financial Services Committee, ranking member Patrick McHenry took a jab at “inconsistent treatment and jurisdictional uncertainty” inherent in U.S. crypto regulation and called for the Committee to take on its critical issues.by mentioning that the Committee’s Democrat Chairwoman Maxine Waters is looking to schedule additional hearings addressing matters pertinent to the digital asset industry.
Citing the confusion that the industry faces due to the Commodity Futures Trading Commission and the Securities and Exchange Commission’s competing claims for jurisdiction over digital assets, McHenry noted that neither of their positions is grounded in statute. Congress, he maintained, should not hand digital asset regulation over to regulatory agencies or courts, but rather step in to categorize the new asset class and lay down the rules governing it.
Furthermore, Congressman McHenry suggested that the Financial Services Committee take a close look at the
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