Congressman French Hill discusses Regulatory Framework for Digital Assets

Jake Claver

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00:00And as recently as October 2022, FSOC recommended that Congress pass legislation to establish a comprehensive framework for stable coins

00:09and that a new federal regulatory authority should be provided over spot markets for digital assets that are not considered securities.

00:20Well, look, that's what this committee has been working on since this Congress, the 118th Congress, was initiated.

00:26This subcommittee and our full committee have done precisely that.

00:30We've crafted a regulatory framework for digital assets and we've crafted a regulatory regime for stable coins.

00:37We don't need FSOC to be involved in that.

00:40What they need to do is support our legislative effort.

00:44And I'm proud in both those efforts, both on stable coins and the regulatory framework.

00:49We move these bills out of committee and we look forward to continuing the work with our colleagues on the Hill and the administration

00:54to move that legislation forward.

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