Source: Securities and Exchange Commission\u00a0<\/figcaption><\/figure>\nRepublican leader at the US Securities and Exchange Commission said Europe\u2019s legislation to regulate cryptocurrency could be a model as the country grapples with how to write rules for the industry.<\/p>\n
SEC Commissioner Hester Peirce, also nicknamed \u201cCrypto Mom,\u201d spoke at a Financial Times live event this week.<\/p>\n
\u201cMiCA can serve as a model for us,\u201d Peirce said.<\/p>\n
European Union lawmakers voted in April to pass the Markets in Crypto Assets law (or MiCA).\u00a0<\/p>\n
MiCA establishes rules for crypto aimed to ensure that crypto transfers can always be traced and for suspicious transactions to be blocked.\u00a0<\/p>\n
The law would cover transactions above \u20ac1000 from so-called self-hosted wallets when they interact with hosted wallets.\u00a0<\/p>\n
“The rules do not apply to person-to-person transfers conducted without a provider or among providers acting on their own behalf,\u201d according to a statement.<\/p>\n
Moves in the US<\/h2>\n Peirce also said she was not optimistic about the regulatory system but said Congress is \u201cworking on some things.\u201d<\/p>\n
The House Financial Services Committee and House Agriculture Committee are set to introduce comprehensive legislation to oversee the cryptocurrency sector in the next month or so.<\/p>\n
Sens. Cynthia Lummis, R-Wyo., and Kirsten Gillibrand, D-N.Y. have plans to introduce a revised version of the Responsible Innovation Act this spring, according to Blockworks.\u00a0<\/p>\n
The bill, which was first introduced in June, will be more detailed when defining tokens and clarify definitions, the lawmakers said.\u00a0<\/p>\n
The pair delegated oversight of the most popular cryptocurrencies to the Commodity Futures Trading Commission while addressing stablecoins and taxes.<\/p>\n
Lawmakers too have held hearings regularly to discuss crypto, with one slated in the House Financial Services Committee for May 18 on stablecoin legislation.<\/p>\n
Several bills made progress last year, but lawmakers were unable to pass comprehensive legislation on crypto.\u00a0<\/p>\n<\/p><\/div>\n
\nSource link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Source: Securities and Exchange Commission\u00a0 Republican leader at the US Securities and Exchange Commission said Europe\u2019s legislation to regulate cryptocurrency could be a model as the country grapples with how to write rules for the industry. SEC Commissioner Hester Peirce, also nicknamed \u201cCrypto Mom,\u201d spoke at a Financial Times live event this week. \u201cMiCA can […]<\/p>\n","protected":false},"author":1,"featured_media":4633,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"class_list":["post-4632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending-cryptos"],"yoast_head":"\n
US SEC\u2019s Hester Peirce Says European Regulation MiCA Could Serve as a \u201cModel\u201d for the US - Leading Crypto News<\/title>\n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n\t \n\t \n\t \n