[The U.S. House of Representatives and the Senate began to jointly formulate new market structure rules around digital assets]

The U.S. House of Representatives and Senate have begun working together on a bill to create new market structure rules around digital assets. The bill comes alongside another regulatory initiative aimed at advancing a bipartisan framework for stablecoins.

The details of Republican-led crypto market regulation are still being negotiated. Targeting introduction this spring or early summer, it and a stablecoin bill will reach bipartisan consensus in both houses of Congress and receive final approval from President Joe Biden to provide more specific rules for digital assets.

Previously, the U.S. House of Representatives Financial Services Committee released a draft version of the landmark stablecoin bill. The proposals include suspending the use of stablecoins supported by other cryptocurrencies and studying the requirements for CBDC. The bill also calls for a moratorium on new stablecoins backed by other types of tokens