The U.S. House Financial Services Committee passed the Financial Innovation and Technology for the 21st Century Act and the Clarity for Payment Stablecoins Act in July 2023.
Rep. French Hill, chair of the House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion, provided the public with an update on how lawmakers planned to move forward with crypto-related legislation in 2024.
Speaking at an event hosted by the Foundation for Defense of Democracies (FDD) on Jan. 29, Rep. Hill said U.S. lawmakers in the House of Representatives had marked up two bills aimed at addressing stablecoins and the regulatory framework of cryptocurrencies and had a “very good working draft” of the latter by the end of 2023. The subcommittee chair said he hoped both bills would be “on the same track” moving forward.
“I still am optimistic that you’ll see those bills come to fruition during ‘24,” said Rep. Hill. “I’ve been very pleased with every meeting I’ve been in.”
