Yesterday the US Senate Agriculture Committee published a discussion draft for a bipartisan crypto market structure bill. Republican Committee Chair John Boozman and Democrat Senator Cory Booker jointly released the draft. It gives the Commodity Futures Trading Commission (CFTC) the authority to regulate digital commodities and builds on the Clarity Act, which was approved by the House in July.
In the meantime, Acting CFTC Caroline Pham is progressing matters, with a view to enabling exchanges to support cryptocurrencies, including using leverage in trading.
The Senate Banking Committee also published draft legislation in July, the Responsible Financial Innovation Act (RFI Act)….
