# Why Onchain Builders Must Engage in Policy for U.S. Blockchain Adoption: Understanding the U.S. Cryptocurrency Regulatory Landscape (Part 2) *Navigating the Maze: Engaging with Congressional Committees on Cryptocurrency Regulation* By [Onchain Success](https://onchainsuccess.com) · 2024-11-09 crypto, policy, washingtondc --- ![](https://paragraph.com/editor/callout/information-icon.png) Would you rather listen to this article? You can now listen on [Audius](https://audius.co/versusjl/understanding-the-us-cryptocurrency) **Part 2: Understanding the U.S. Cryptocurrency Regulatory Landscape** ====================================================================== A Brief Civics Refresher  ------------------------- For any bill to become law, it must pass both chambers of Congress - the House of Representatives (435 voting members based on state population) and the Senate (100 members, two per state). Both chambers often work on parallel versions of similar bills, which must be reconciled through a conference committee before reaching the President's desk. This two-chamber system means crypto legislation typically needs support from relevant committees in both chambers to advance. [![](https://paragraph.com/editor/youtube/play.png)](https://www.youtube.com/watch?v=tyeJ55o3El0) Key Congressional Committees  ----------------------------- While Congress maintains numerous committees, cryptocurrency and blockchain oversight currently falls under eight key committees: ### House Committee's **House Financial Services Committee** * Oversight of SEC, Federal Reserve, Treasury, FDIC, and OCC * Focus on financial issues that pertain to the economy, banking systems, payment, housing finance, insurance, securities markets and exchanges, monetary policy, and efforts to combat terrorist financing. * Key role in crypto market structure and stablecoin regulation **House Agriculture Committee** * Oversight of CFTC which oversees commodity futures and other derivatives * Focus on policies, statutes, and markets relating to both agriculture issue, such as rural development and energy, as well as commodity, currency, and derivative markets and commodity and derivative exchanges.  * They have a sub committee called "commodity markets, digital assets, and rural development." * Significant influence over crypto policy due to commodity classification * May oversee “spot” trading for most digital assets if granted by Congress **House Energy & Commerce Committee** * Oversight of FTC and Department of Commerce * Focus on commerce, telecom, and technology – including over blockchain networks themselves, issues around energy usage, “practical” nonfinancial applications of NFTs, and blockchain supply chain tracking **House Ways and Means Committee** * Oversight of IRS  * Focus on taxation, tariffs, and revenue-raising measures, including over crypto being treated as property, tax treatments of crypto transactions, mining, staking, and other crypto related activities like international tax implications ![](https://storage.googleapis.com/papyrus_images/17a08366cf791d225d3423fb568ee255.png) ### Senate Committeee's **Senate Banking, Housing, and Urban Affairs Committee** * Oversight of SEC, Federal Reserve, Treasury, FDIC, and OCC * Focus on financial issues that pertain to the economy, banking systems, payment, housing finance, insurance, securities markets and exchanges, monetary policy, efforts to combat terrorist financing, financial markets, international trade and finance, economic policies. * National security matters related to financial sanctions **Senate Agriculture, Nutrition, and Forestry Committee** * Oversight of CFTC which oversees commodity futures and other derivatives and “spot” trading. * Focus on policies, statutes, and markets relating to both agriculture issue, such as rural development and energy, as well as commodity, currency, and derivative markets and commodity and derivative exchanges, and commodity markets, commodity derivatives, and trading intermediaries.  * May oversee “spot” trading for most digital assets if granted by Congress * Key role in crypto derivatives and futures markets **Senate Commerce Committee** * Oversight of FTC and Department of Commerce * Focus on commerce, telecom, and technology – including over blockchain networks themselves, issues around energy usage, “practical” non-financial applications of NFTs, and blockchain supply chain tracking **Senate Finance Committee** * Oversight of IRS  * Focus on taxation and the Internal Revenue Code, trade, tariffs, social security, medicare and other programs, national debt, and revenue-raising measures, including over crypto being treated as property, tax treatments of crypto transactions, mining, staking, and other crypto related activities like international tax implications **Key Federal Regulatory Agencies:** ------------------------------------ ![](https://storage.googleapis.com/papyrus_images/f932d5968ef158a486c8168019d7d90b.png) * Securities and Exchange Commission (SEC) * Commodity Futures Trading Commission (CFTC) * Financial Crimes Enforcement Network (FinCEN) * Department of Justice (DOJ) * Internal Revenue Service (IRS) * Office of Foreign Assets Control (OFAC) * Office of the Comptroller of Currency (OCC) Now that we understand the complex web of agencies and legislative bodies shaping crypto policy, the question becomes: **how do we effectively engage with congressional members?** [**Next Section: How Builders Can Navigate Policy Engagement (Part 3)**](https://onchainsuccess.com/why-onchain-builders-must-engage-in-policy-for-us-blockchain-adoption-how-builders-can-navigate-policy-engagement-part-3) ![Why Onchain Builders Must Engage in Policy for U.S. Blockchain Adoption: How Builders Can Navigate Policy Engagement (Part 3)](https://storage.googleapis.com/papyrus_images/3c16ceedc9cf389dcadb5a52869cd103.webp) [ ### Why Onchain Builders Must Engage in Policy for U.S. Blockchain Adoption: How Builders Can Navigate Policy Engagement (Part 3) ](https://onchainsuccess.com/why-onchain-builders-must-engage-in-policy-for-us-blockchain-adoption-how-builders-can-navigate-policy-engagement-part-3) Onchain Success Nov 8, 2024 Builders, not lobbyists, drive impactful crypto policy. Engage local representatives, simplify tech for policymakers, and connect innovations to constituent needs. 0 collected [Collect](/@onchainsuccesscom/nft/Xxk8CRtYCe1R24ffxf9h) --- *Originally published on [Onchain Success](https://onchainsuccess.com/why-onchain-builders-must-engage-in-policy-for-us-blockchain-adoption-understanding-the-us-cryptocurrency-regulatory-landscape-part-2)*