September 2024 will be a significant month for cryptocurrency regulation in the U.S., as the House Financial Services Committee plans to hold a series of hearings on various crypto-related issues. The committee will explore decentralized finance (DeFi), the Securities and Exchange Commission's (SEC) oversight of digital assets, and scams like "pig butchering," where fraudsters pose as romantic partners to defraud victims.

The first hearing, scheduled for September 10, will focus on DeFi, which has been under intense regulatory scrutiny. On September 18, the committee will examine the SEC's enforcement practices in the morning, followed by discussions on "pig butchering" scams later that day. A key event on September 23 will feature SEC Chair Gary Gensler and the full commission, highlighting the importance of the hearings.

These hearings come as lawmakers consider legislation to potentially reduce the SEC's role in favor of the Commodity Futures Trading Commission (CFTC). With key lawmakers pushing for action, September could mark a turning point in U.S. crypto regulation, setting the stage for new federal rules tailored to digital assets.

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