Long-Awaited Crypto Market Bill Unveiled by US Senators
U. S. senators recently proposed draft legislation to create a regulatory framework for cryptocurrency, aiming to clarify the jurisdiction of financial regulators and promote the adoption of digital assets. The crypto industry has long sought such legislation to resolve ongoing issues facing crypto companies. The bill would distinguish between crypto tokens as securities or commodities, offering much-needed legal clarity.
The proposal grants authority to the U. S. Commodity Futures Trading Commission (CFTC) to oversee spot crypto markets, which is favored by the industry over the U. S. Securities and Exchange Commission (SEC). The legislation also addresses concerns from the banking industry about legislation on stablecoins,…
