Coinbase, Robinhood, and CFTC will testify in the U.S. Congress on the cryptocurrency bill draft

ChainCatcher news, according to Cointelegraph, Coinbase, Robinhood, and the CFTC will testify on June 6 before the U.S. Congress regarding the draft crypto bill. The three parties will share their views on the proposed legislation, which may classify certain crypto tokens as digital commodities, among other things.

It is reported that the "Discussion Draft on Digital Asset Market Structure" was released on June 2, as part of an initiative led by Republican Congress members Patrick McHenry and Glenn Thompson, aimed at providing "a statutory framework for the regulation of digital assets to provide clarity, fill regulatory gaps, and promote innovation while ensuring adequate consumer protection."

Earlier today, Coinbase's Chief Legal Officer testified before Congress regarding the "Discussion Draft on Digital Asset Market Structure." (source link)