Congressman McHenry announces joint hearings to address market structure around digital assets

cointelegraph.com:

Patrick McHenry, the Chairman of the House Financial Services Committee, has announced a series of joint hearings in May that will focus on addressing the market structure around digital assets in the U.S.

The move was revealed via a joint announcement on April 27 from Congressman McHenry, Glenn Thompson, Chairman of the House Agriculture Committee, French Hill, Chairman of the Digital Assets, Financial Technology and Inclusion Subcommittee, and the Chairman of the Commodity Markets, Digital Assets, and Rural Development Subcommittee, Dusty Johnson.

“Our Committees are embarking on an unprecedented joint effort to pass and sign into law clear rules of the road for the digital asset ecosystem. We must strike the appropriate balance to protect consumers without stifling responsible innovation,” the joint statement reads.

Speaking as part of a panel alongside crypto-friendly Senator Cynthia Lummis during the 2023 Consensus event on April 28, McHenry added more context to the upcoming hearings:

“What we plan to do over the next two months is report a bill out that deals with the capital raising piece for digital assets, all the way through to how a product can go from a securities regime to commodities regime and also at the same time, preserve our rights around products that are neither neatly [put] into a securities regime or commodities regime,” he added.

McHenry also stressed that the aim of the hearings is to establish a bill providing regulatory clarity to the crypto sector, which adds to the work being done on the bipartisan bill led by Lummis and Senator Kirsten Gillibrand.

@PatrickMcHenry said U.S. House Will Have Crypto Bill in 2 Months. pic.twitter.com/e06Sx9ec2H

The Responsible Financial Innovation Act, also known