US lawmaker calls for info from Treasury and SEC on crypto market structure bill
Rep. Maxine Waters gave Janet Yellen and Gary Gensler a deadline of June 30 to respond to her requests on the “Digital Asset Market Structure” bill proposed by Republican lawmakers.
California Rep. Maxine Waters, ranking member of the United States House Financial Services Committee, has called on leadership at federal regulatory agencies to weigh in on a proposed framework for digital assets.
In separate letters dated June 23, Waters requested Treasury Secretary Janet Yellen and Securities and Exchange Commission (SEC) Chair Gary Gensler provide information on the possible impact of the “Digital Asset Market Structure” bill. The legislation proposed by Republican lawmakers on June 1 aimed to establish a comprehensive framework on digital assets in the U.S. in part by addressing regulatory gaps between the SEC and Commodity Futures Trading Commission.
#RELEASE: Ranking Member @RepMaxineWaters Calls on @USTreasury, @SECGov to Share Analysis on Republican Digital Assets Market Structure Bill | https://t.co/lloLm7Lho6 pic.twitter.com/qbPNMSRl5v
— U.S. House Committee on Financial Services (@FSCDems) June 26, 2023
According to the letters, Waters asked Gensler to discuss how the proposed framework, if enacted, could affect the SEC’s existing authority in protecting crypto investors. She requested similar feedback from Yellen but added that the Treasury secretary should address any potential conflicts with existing recommendations on digital assets from the Financial Stability Oversight Council per U.S. President Joe Biden’s executive order on crypto.
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