The House Republicans’ digital assets bill is here, aiming to give clearer roles to the SECGov and CFTC in regulating the US crypto industry.
, it's intended to address regulatory gaps by creating a framework for the"specific risks of different digital asset-related activities.”
The bill gives the Commodity Futures Trading Commission jurisdiction over digital commodities, clarifies the jurisdiction of the Securities and Exchange Commission and creates a process for digital assets originally deemed securities to be sold as commodities. The bill also sets conditions for a digital asset to be considered a commodity, with decentralization being the main requirement. Digital asset commodities could be sold on SEC-registered digital asset trading systems. Market participants are subject to new and more comprehensive disclosure requirements and could have registration with both agencies.
Introducing the Financial Innovation and Technology for the 21st Century Act. This bill establishes a regulatory framework for digital assets, protects consumers, fosters innovation, and positions America as a leader in finance and technology.
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