The draft bill is set to go before the House committee for discussion on June 13 and, if approved, could become the first example of crypto legislation in the United States.
MiCA, which comes fully into force by the end of 2024, aims to create a consistent regulatory framework for crypto assets among European Union member states.
Whether XRP is ruled as a security or not in the Ripple case will certainly have an influence on the two latest crypto exchange lawsuits, crypto lawyers told Cointelegraph.