The seats given to the SEC and CFTC in the crypto bill submitted by 3 Republican Representatives from the US House of Representatives Agriculture Committee drew attention.
U.S. House of Representatives Agriculture Committee 20 July In a statement published on the official website on Glenn Thompson led by cryptocurrency a regulation for law draft the one which… “Financial Innovation and Technology Law for the 21st Century” announced their offering.
In the draft law, US Securities and Exchange Commission (SEC) with To the Commodity Futures Trading Commission (CFTC) loaded in the sense of regulation roles attention pulled. Cryptocurrency ecosystem of the bill two institutions between equal somehow to share appeared to be intended. Accordingly, the SEC and CFTC’s cryptocurrency platforms And cryptocurrencies special for drafting legislation will need.
If the bill goes into effect, a cryptocurrency securities whether or not regulators by certain criteria will be evaluated. Supervision of projects with securities status SEC will be held responsible.
One of the architects of the bill Representative French Hillinvestors with this bill. to protect And innovation He stated that they aim to keep it in the USA. Hill’s bill potential effectiveness made the following statements about it:
If this bill were passed into law, it would not only prevent FTX from stealing billions of client funds, but would also provide solid protection to consumers and clear rules for market participants.
The third name of the bill is Representative Dusty Johnson As part of the proposed proposal, both to the SEC as well as One seat per CFTC noted that it was given.
A milestone for the USA
Touching on many important points and CFTC with SEC between disagreements bill that seems to solve Patrick McHenry, Chairman of the Financial Services Committee was praised by McHenry, this bill technology adoption And innovation on the global leadership for quite important stated that.
Cryptocurrencies are a part of the US financial system. revolution McHenry, who stated that the bill would create next week from the committee to pass He said he was looking forward to it.