A proposed bill that seeks to establish a regulatory framework for the rising cryptocurrency industry saw overwhelming bipartisan support at the U.S. House of Representatives Wednesday, but the White House isn't too happy about it.
The Biden administration said in a statement Wednesday that it "opposes passage of H.R. 4763, which would affect the regulatory structure for digital assets in the United States." The White House also said the proposed legislation "in its current form lacks sufficient protections for consumers and investors who engage in certain digital asset transactions."
