Legislative Process

Definition ∞ The ‘Legislative Process’ describes the formal procedures through which laws are proposed, debated, amended, and enacted by a legislative body. This process typically involves multiple stages, including committee review, floor debate, and voting, culminating in a bill becoming law. It is the mechanism by which governmental policy is established and modified.
Context ∞ The ‘Legislative Process’ concerning digital assets is currently a highly active area of focus for governments worldwide. Lawmakers are grappling with how to classify and regulate cryptocurrencies, stablecoins, and decentralized finance protocols. The outcomes of these legislative endeavors will critically shape the future operational landscape for the digital asset industry, impacting innovation, investor protection, and market structure.