The US HFSC is reportedly working to introduce regulatory clarity in the crypto industry following years of campaigns.
The committee is also coming up with a new digital asset market structure legislation to challenge the Howey Test.
The United States has over the past few years faced a series of criticisms for its legal actions against crypto-related companies and some digital assets. Many industry key players have consistently called for clarity in these regulations as other countries displace the US from the pole position of crypto-friendly countries to attract industry powerhouses.
In response to this, the United States has introduced a new bill to address these challenges and also questions the Howey test. This lines the country up to take over the apex position of the most crypto-friendliest country. 
According to reports, the US House Financial Services Committee (HFSC) in collaboration with the House Financial Services and Agriculture Committees on July 26 proposed the “FIT

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