Crypto Regulatory Framework Bill Endorsed by House Financial Services Committee
- Senate remains big hurdle for crypto-friendly legislation
- Republican-led bill would elevate CFTC in regulating crypto
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Legislation championed by crypto advocates that sets clearer rules for the nascent industry was approved by a key US House panel on Wednesday.
The Republican-led bill was approved by the House Financial Services Committee in a 35-15 vote, mostly along party lines. A handful of Democrats, including Jim Himes of Connecticut and Ritchie Torres of New York, also voted in favor of the legislation and argued the status quo wasn’t working.