U.S. Congressman Proposes Bill for SEC and CFTC Cooperation in Cryptocurrency Regulation

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Creation of Joint Committee
  2. Objectives and Tasks of the Committee
  3. Industry Response to the New Bill


    4. Congressman John Rose of Tennessee has introduced a new bill aimed at enhancing collaboration between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on cryptocurrency regulation.

    Creation of Joint Committee

    The legislation, known as the 'BRIDGE Digital Assets Act,' proposes the creation of a Joint Advisory Committee on digital assets. This committee will bring together the SEC and CFTC to develop a unified approach to cryptocurrency regulation.

    Objectives and Tasks of the Committee

    The proposed committee will include 20 non-governmental stakeholders representing various interests within the cryptocurrency space. These members will provide advice to both agencies on their rules, regulations, and policies relating to crypto. Key responsibilities outlined in the bill include advising on crypto rules and policies, promoting regulatory harmonization between the SEC and CFTC, and exploring methods to measure key aspects of digital assets and leverage blockchain technology to enhance financial market infrastructure.

    Industry Response to the New Bill

    The new bill has been welcomed by representatives of the crypto industry, who view it as a step towards clearer regulatory guidelines. Current heavy-handed regulation-by-enforcement has been criticized for stifling innovation in the U.S. crypto sector. Rose stated that the committee aims to create a more collaborative approach to crypto governance, fostering a successful regulatory landscape for the industry.

    Congressman John Rose's proposed bill aims to develop a more collaborative and flexible approach to cryptocurrency regulation, promoting the successful advancement of the crypto space in the United States.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Hut 8 Wins Bid for Poolin's Texas Datacenter Sites

Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.

user avatarLucas Weissmann

Senate Banking Committee Democrats Request Hearing on Prediction Markets

Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.

user avatarFilippo Romano

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.