.RepFrenchHill, chairman of a new House subcommittee on digital assets, told CoinDesk TV tackling stablecoin legislation is one of the top priorities. _franvela reports
,” tied to crypto. Hill said the committee’s current draft on stablecoins will serve as a model of how it will approach digital asset regulation.Hill said “that’s not clear yet” when asked whether the Securities and Exchange Commission or the Commodity Futures Trading Commission should be the primary regulator of spot crypto markets.
He said that will be something else the subcommittee will sort through this year. To that end, he said the subcommittee will work with both House and Senate agriculture and banking committees and the House Financial Services Committee.to “pick the right direction” that will help “produce innovation” that is beneficial to developers, consumers and investors. What is critical to the development of crypto in the broader market now is “accurate [and] timely information,” according to Hill, and that depends on developing “definition and expectations,” to better understand what, when and how crypto-related assets are reported. “If you want to see financial innovation in this space, you're going to have to have accurate information,” Hill said.
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