French Hill, Chairman of the US House Financial Services Committee, stated in an interview with CoinDesk that tokenization will be the next major agenda item in the cryptocurrency sector. According to him, after regulating stablecoins and market structure, the tokenization of real-world assets will be the primary focus for lawmakers. This is reported by Coindesk.com reports.
French Hill noted that a bipartisan consensus is expected on the Clarity Act bill. Previously, the House of Representatives successfully passed the document, which includes stablecoin trading, DeFi, and ethics rules, with the support of 78 Democrats. Now, the Senate is also developing its own version using this experience.
The committee held a special hearing on tokenization at the end of March. The main goal of this event was to determine whether the SEC and banking regulators need additional powers or rules for companies engaged in the tokenization of real-world assets (RWA).
Lawmakers are currently debating whether a new legal framework is needed to regulate this sector or if guidance at the level of existing regulators will suffice. French Hill and his team aim to create a favorable legal environment for the development of the Bitcoin and digital asset ecosystem during this process.
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