US to encourage cryptocurrency innovation
The House of Representatives approved a series of laws that envisages the creation of a commission to evaluate various digital assets, such as bitcoin
The United States House of Representatives recently approved a series of laws which include – among other things – promoting the innovation on cryptocurrencies such as bitcoin.
This specific law will create a working group in charge of reviewing various digital assets. The main objective is to reach a consensus between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
“Establishing this task force is an important step in providing the necessary regulatory clarity. By ensuring greater collaboration, we can create an environment that encourages, rather than slows, innovation”, said Congressman Patrick McHenry.
The group will be made up of people appointed by the Commissions, as well as representatives of large and small Fintech companies, according to the statement.
The report will contain research on best practices to reduce fraud, protect investors, and assist in complying with the obligations set forth in the Bank Secrecy Act.
K. Tovar
Source: News agencies
