U.S. House of Representatives passes defense budget bill with cryptocurrency provisions, awaiting Senate approval

According to CoinDesk on September 24, the U.S. House of Representatives passed the 2021 defense budget bill, which included cryptocurrency-related provisions.

It is reported that the defense budget bill usually receives broad bipartisan support in the United States and is considered a bill that must be passed. The cryptocurrency-related provisions in the bill may soon be incorporated into law. Currently, the bill is awaiting approval from the Senate. At the same time, the proposed bill will require the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to clearly define which agency oversees which aspects of the crypto market. In addition, Congress will set up a working group composed of SEC and CFTC representatives within 90 days after the bill is passed.