🌊Regulatory Tide Turns: DeFi Week of July 23

Happy weekend Defiers!

The regulatory tide appears to be turning for crypto, with the House Financial Services Committee advancing two landmark bills dealing with digital assets.

On Wednesday, six Democrats crossed the floor to support a Republican-introduced bill proposing regulations for crypto exchanges and custodians, including the creation of a joint CFTC-SEC committee on digital assets. The committee’s Republican members then passed a bill offering regulations for stablecoin issuers and stable tokens the next day.