TechFlow reports, Politico journalist Eleanor Mueller said that House Democratic leaders today stated they will not oppose the House Republicans' crypto bill. Although Representatives Maxine Waters and David Scott "strongly oppose" the bill, they have not urged members to vote against it. Floor debate and voting will take place on Wednesday.
Waters, Lynch, and Casten held an online briefing for committee members today. Waters will meet with SEC officials tomorrow. She and Scott sent a letter to their colleagues warning that implementing "light-touch regulation" under the CFTC could result in certain areas having "no primary regulator."
Earlier, it was reported that the full U.S. House of Representatives plans to vote this week on the FIT21 market structure bill, which includes new provisions such as rules determining when cryptocurrencies should be considered securities.
