House Financial Services Committee Schedules Hearing on Digital Assets

Following the hearing today on digital assets held by the House Committee on Agriculture, the House Financial Services Committee has scheduled its own hearing on digital assets.

The Ag Committee oversees commodities and the Commodity Futures Trading Commission (CFTC), the main regulator of Bitcoin. Some industry insiders believe other digital assets should also be regulated by the CFTC as well. In fact, the current CFTC Chair stated several times today he believes that Ethereum, the second most popular crypto, is a commodity as well.

The House Financial Services Committee has oversight over the Securities and Exchange Commission and broad legislative ability for all financial services firms.

Recently, the two committees collaborated on draft digital asset legislation queuing up a potential bill that may soon come up for a House vote. The draft includes digital securities issued under exempt offerings.

The full Committee hearing is entitled, The Future of Digital Assets: Providing Clarity for the Digital Asset Ecosystem” and will be live-streamed on the Committee’s website.

The gathering is scheduled for Tuesday, June 13, 2023, at 2 PM. The list of witnesses should be available in the coming days.


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