- Creation of a Joint Advisory Committee
- Goals and Objectives of the Committee
- John Rose's Stance on Cryptocurrencies
Tennessee Congressman and Financial Services Committee member John Rose introduced a bill to create a joint advisory committee on digital assets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Creation of a Joint Advisory Committee
John Rose presented a bill on September 12 to create the Joint Advisory Committee on Digital Assets under the 'Bridging Regulation and Innovation for Digital Global and Electronic Digital Assets Act.' The committee would include representatives from both SEC and CFTC, as well as at least 20 non-governmental members representing the digital asset industry, users, and academics.
Goals and Objectives of the Committee
The committee would provide advice to the agencies, promote law harmonization, examine and disseminate methods for describing, measuring, and quantifying digital assets, and analyze how digital assets and blockchain can enhance efficiency and consumer protection in financial markets. Committee members would serve for two years and meet at least twice a year.
John Rose's Stance on Cryptocurrencies
John Rose believes that the current U.S. approach to regulating digital assets through enforcement encourages investment in them overseas. In a statement to Cointelegraph, he said, 'The Joint Advisory Committee on Digital Assets will provide a framework for the government and private sector partners to cooperate on a path toward success for the regulatory landscape of digital assets and private sector participants.' Rose has also received a high rating from the Stand with Crypto political action committee and has actively supported various bills aimed at regulating and protecting the interests of the cryptocurrency industry.
John Rose's bill aims to strengthen cooperation between the SEC and CFTC in the regulation of digital assets, which the congressman believes will enhance consumer protection and improve financial market efficiency.
Comments