House Approves Legislation for Digital Asset Working Group
The Eliminate Barriers to Innovation Act otherwise known as H.R. 1602, sponsored by Rep. McHenry (R-NC) proposes to direct the Commodity Futures Trading Commission and the Securities and Exchange Commission to jointly establish a working group on digital assets.
The Eliminate Barriers to Innovation Act otherwise known as H.R. 1602, sponsored by Rep. McHenry (R-NC) proposes to direct the Commodity Futures Trading Commission and the Securities and Exchange Commission to jointly establish a working group on digital assets. The bill passed the House in a 355-69 vote.
Some of the bill’s highlights include directing the working group to:
Make an analysis of the legal and regulatory framework and related developments in the United States relating to digital assets
Recommend for the creation, maintenance, and improvement of primary and secondary markets in digital assets, including for improving the fairness, orderliness, integrity, efficiency, transparency, availability, and efficacy of such markets;
Make best practice recommendations to reduce fraud and manipulation of digital assets in cash, leveraged, and derivatives markets
If you are a fintech or technology stakeholder who has an interest in digital assets, planning for regulatory oversight should be a part of your business strategy.
Lanton Law is a national boutique law and lobbying firm that focuses on fintech, technology and healthcare. If you are an industry stakeholder with questions about the current landscape or if you would like to discuss how your organization’s strategic initiatives might be impacted by either Congress, regulatory agencies or legal decisions,contact us today.
Lanton Law Monitoring Central Bank Digital Currency Developments
According to Investopedia “a central bank digital currency (CBDC) uses an electronic record or digital token to represent the virtual form of a fiat currency of a particular nation (or region). A CBDC is centralized; it is issued and regulated by the competent monetary authority of the country.”
According to Investopedia “a central bank digital currency (CBDC) uses an electronic record or digital token to represent the virtual form of a fiat currency of a particular nation (or region). A CBDC is centralized; it is issued and regulated by the competent monetary authority of the country.”
CNBC did a great story on this subject where they highlighted that countries like China and others are exploring a digital dollar, especially since technology is pushing society towards being cashless. The issue is how to reach the “unbanked” and ensure that they have access to the financial system.
Lanton Law is a national boutique law andl obbying firm that focuses on fintech, technology and healthcare. If you are an industry stakeholder with questions about the current landscape or if you would like to discuss how your organization’s strategic initiatives might be impacted by either Congress, regulatory agencies or legal decisions, contact us today.