TechFlow reports, U.S. House Financial Services Committee Chairman Patrick McHenry said the House Financial Services Committee and the House Agriculture Committee will draft legislation to regulate the crypto industry within the "next two months" following a joint public hearing in May.
When asked whether Biden would sign such a bill within the next 12 months, McHenry replied, "Yes."
He stated, "We plan to release an agreement within the next two months. The new bill will cover both securities and commodities regimes, as well as issues that are difficult for either regime to address alone."
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