What the experts say
Analysts point out that the parties have a common understanding of how to protect consumers. However, they cannot agree on the rules for the cryptocurrency industry.
Experts drew attention to the bill, which concerns the comprehensive structure of the crypto market. It was proposed by Patrick McHenry, Chairman of the House of Representatives. He suggests changing the legal status of digital assets. At the moment they are recognized as securities. However, in his opinion, it is better to classify them as goods.
However, Maxine Waters made a statement that when hearing this proposal, she had concerns about protecting the rights of users. She noted that this bill, apparently, is able to stop all actions of the SEC department against cryptocurrency platforms. Even taking into account the fact that they were engaged in fraud. This temporary registration can be a reward for them in the form of "getting out of prison". Thus, they will continue to deceive consumers and investors.