Rep. French Hill said the digital assets subcommittee plans to use its stablecoins draft as a model for how it will approach digital asset regulation moving forward.
The U.S. markets regular has rejected a score of ETF applications for products that invest directly in bitcoin while approving a number of funds tracking the BTC futures market.
The SEC and CFTC are unlikely to issue new rules covering crypto this year. But, if they did, calls from policymakers to regulate through rulemaking rather than enforcement offer a useful way forward, says Michael Selig, an attorney at Willkie Farr & Gallagher.