PANews news on July 27, according to CoinGape, Patrick McHenry, chairman of the U.S. House of Representatives Financial Services Committee, said at a hearing on Wednesday that digital assets that are not securities in nature can be offered as part of an investment contract, but that doesn’t make them an investment contract. securities. The Crypto Assets Act focuses on two key points, decentralization and functionality, to explain how the Howey test applies to digital assets. According to previous news, last week Republicans in the U.S. House of Representatives introduced a new digital asset regulation bill, the 21st Century Financial Innovation and Technology Act, which aims to establish a regulatory framework to protect investors in the encryption industry. The bill aims to pave the way for crypto exchanges to register with the U.S. Securities and Exchange Commission (SEC) and allow them to trade digital securities, commodities and stablecoins. The revised bill removes a range of traditional securities from the definition of “digital assets,” such as stocks, bonds, “transferable shares,” “interest certificates or participation in any profit-sharing agreement,” among others.