US House of Representatives begins digital asset regulation overhaul... Joint hearing scheduled for June

The US House Financial Services Committee and the Agriculture Committee have jointly proposed basic principles for digital asset legislation, officially embarking on legislative work to ensure regulatory clarity and protect innovation.

According to CoinDesk, a media outlet specializing in virtual assets (cryptocurrency), French Hill, Vice Chairman of the House Financial Services Committee, and Glenn Thompson, Chairman of the Agriculture Committee, stated in a joint article, "Under President Trump's leadership, we will lay the foundation for the US to become the 'world's cryptocurrency capital.'"

They pointed out, "The regulatory uncertainty under the Biden-Harris administration has driven the digital asset industry out of the US, and the ambiguous stance and repeated lawsuits by the Securities and Exchange Commission (SEC) have hindered ecosystem growth." They also emphasized, "This Congress has achieved the first bipartisan digital asset market structure bill passage in the House."

The two committees plan to hold a joint hearing in June to continue legislative discussions on the digital asset market structure.

They proposed six basic principles to establish a clear regulatory framework for the digital asset industry. These include ▲ promoting innovation ▲ clarifying asset classification ▲ establishing standards for new asset issuance ▲ systematizing oversight of spot markets and intermediaries ▲ strengthening customer asset protection ▲ protecting decentralized projects.