The post US House Democrats Oppose Proposed Crypto Oversight Changes! appeared first on Coinpedia Fintech News

House Financial Services Committee Democrats have largely opposed a bill proposing changes to crypto oversight in the US, including a clear path for digital assets to transition from security to commodity. Although several Democrats showed support, this opposition reduces the chances of the bill becoming law, as Democrats narrowly control the Senate, and President Joe Biden is less likely to sign a bill into law if most party members oppose it. Senior members of the House of Representatives suggested that negotiations for creating a comprehensive framework in the US around stablecoins could yield more agreement.