Members of Congress in the US have met key players from the cryptocurrency sector to discuss potential legislation and to address issues.
A group of legislators, including Alaska Representative Nick Begich, Ohio Senator Bernie Moreno, and other participants in a roundtable discussion on the BITCOIN act, a law to create a strategic Bitcoin, met Tuesday with Strategy cofounder Michael Saylor.BTC) reserve. This discussion was organized by Digital Chamber, its affiliates Digital Power Network and Bitcoin Treasury Council.
“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller told Cointelegraph that she is director of public affairs and government policy at Digital Power Network. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.”
Separately several Republican legislators, including House Speaker Mike Johnson and Chair of the House Financial Services Committee French Hill, as well as Majority Whip Tom Emmer. met On Tuesday, I met with Coinbase CEO Brian Armstrong and other executives of crypto companies to discuss industry issues. The discussions included progressing legislation passed by the House of Representatives in July for market structure.
Another roundtable with Republican Leaders on the Senate Banking Committee was held Wednesday to examine the progression of a Market Structure Bill.
The Republican Senators have said that their version of the bill, called tentatively the Responsible Financial Innovation Act (RFIA), is based on the CLARITY Act which passed the House by July. A committee vote should be held by September’s end.
Related: US SEC crypto task force to tackle financial surveillance and privacy
Three roundtable discussions showed that Republican members of Congress were continuing their focus on the industry’s crypto- and blockchain laws after returning from a month long recess.
Crypto bills under consideration, awaiting votes
The BITCOIN Act was passed in 2009. expected to codify an executive order Signed by US President Donald Trump, the National Reserve Act allows for up to one million BTC to be held in reserve.
Though still in discussion, the Senate market structure legislation is expected to provide clarity on the role that US financial institutions will play in overseeing and enforcing the regulations regarding crypto.
Magazine: Bitcoin mining industry ‘going to be dead in 2 years’: Bit Digital CEO
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
