Crypto Crackdown! Are They Nuts?! 🤪

Oy vey! A hearing, fancily titled “American Innovation and the Future of Digital Assets: Aligning U.S. Securities Laws for the Digital Age“! Sounds like a real nail-biter, eh? This marks the 119th Congress’ first public attempt to make sense of the $2.7 trillion crypto circus in the U.S. Can you believe it? Trillions! And they’re just now figuring it out? What a bunch of schlemiels! 🤦‍♂️

Key Legislation Efforts in the Works (Or Not!)

Those Republican fellas are hustling to deliver stablecoin and market structure bills to President Trump before their summer vacation—just four months away! Four months! They think they can do it in four months? I need four months just to find my car keys! Although no one’s actually seen this market structure bill yet, rumors are swirling that something’s cooking behind closed doors. This “revised” draft supposedly builds on flops like the Fit for the 21st Century Act (FIT21), which somehow squeezed through the House last year, and that Responsible Financial Innovation Act thingamajig by Senators Lummis and Gillibrand. Responsible? Innovate? They should try stand-up comedy! 😂

At the Digital Chamber Blockchain Schmear, House Financial Services Committee Chairman French Hill(R-AR)—sounds like a character from a bad Borscht Belt routine—announced that the House is gearing up to unleash a “revised” market structure draft in the coming weeks. Coming weeks? That’s like saying “I’ll pay you back… eventually!” Plus, the House Financial Services Committee (those guys again!) will hold a “markup session” (whatever that is!) for the STABLE Act—the House’s stablecoin legislation, ready to tango with the Senate’s GENIUS Act. Genius? Stable? These guys are killing me! I’m plotzing! 🤣

2025-03-31 15:53

Key Legislation Efforts in the Works (Or Not!)

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