A new bill on cryptocurrencies has been sent to the US Congress

A bill to control the digital currency market has been submitted to Congress for consideration.

The authors of the documents were Republicans from the House of Representatives. Patrick McHenry and Glenn Thompson took part in its development.

The crypto industry and the expert community often criticize Congress for being slow in legalizing the blockchain industry. Circle CEO Jeremy Alleir said back in April that if the US authorities are slow or prefer to introduce repressive mechanisms against market participants, then companies will go to other countries.

The bill introduced by Thompson and McHenry gives regulatory powers to the Securities and Exchange Commission. It will register bitcoin exchanges and will be able to classify digital currencies, that is, include some of them in the category of securities.

In addition, the SEC will be able to control the circulation of stablecoins in the US market.

The bill also provides for participation in crypto regulation by the Commodity Futures Trading Commission.

The SEC and CFTC will divide digital assets into securities and commodities and regulate them in accordance with their powers.