Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Landmark Cryptocurrency Bill Introduced in the US: Covers Both SEC and CFTC

Landmark Cryptocurrency Bill Introduced in the US: Covers Both SEC and CFTC

BitcoinsistemiBitcoinsistemi2024/09/13 00:15
By:Mete Demiralp

A new bill has been submitted to Congress in the USA, and it is noteworthy that the bill is positive for the cryptocurrency industry.

A new bill has been introduced in Congress that proposes the establishment of a joint committee between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to review and regulate digital assets.

The bill, titled the “BRIDGE” Digital Assets Act (Bridging Regulation and Innovation for Digital Global and Electronic Digital Assets), was introduced by Representative John Rose, a member of the House Financial Services Committee.

According to Rose, the current “sanctions-based regulation” approach to cryptocurrencies is ineffective and drives innovation offshore. “The Joint Advisory Committee on Digital Assets will provide a framework for government and the private sector to collaborate in shaping a successful regulatory environment for digital assets,” the Tennessee-based Republican said in a statement.

Related News Donald Trump's Cryptocurrency Project Launch Date Has Been Set - Former President Makes Official Statement

While the SEC and CFTC have been active in bringing charges against major crypto firms, they have disagreed on key issues such as the need for new legislation and how to classify certain cryptocurrencies like Ethereum. The joint committee proposed in Rose’s bill aims to address these differences and create a cohesive strategy for regulating the digital asset space.

The committee will include 20 non-governmental partners representing a variety of interests in the digital asset sector, serving two-year terms. The committee will meet at least twice a year to make recommendations on rules and regulations for the crypto sector. The committee’s focus areas include exploring decentralization, improving market efficiency, and ensuring consumer protection.

*This is not investment advice.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Best 100x Crypto Opportunities Right Now – Nexchain Leads, Unstaked & BTC BULL Follow

Discover top crypto presales in 2025: Nexchain, Unstaked & BTC BULL offer AI, utility, and big ROI potential—get in early today!Nexchain: AI Layer 1 Blockchain Presale Gains SpeedUnstaked: No-Code AI Tools Draw Big CapitalBTC BULL: Bitcoin-Powered Presale with Big FeaturesFinal Thoughts: Nexchain Tops Crypto Presale List

Coinomedia2025/06/09 19:40
Best 100x Crypto Opportunities Right Now – Nexchain Leads, Unstaked & BTC BULL Follow

Avalon Labs Burns 80M Tokens in Major Supply Cut

Avalon Labs burns 80M AVL tokens, slashing its supply by 44% after unclaimed airdrop allocations.Background on the Airdrop and Burn DecisionAvalon’s Roadmap and Strategic Backing

Coinomedia2025/06/09 19:40
Avalon Labs Burns 80M Tokens in Major Supply Cut

Trader Turns $171K Into $9.3M with $KTA in 3 Months

A savvy trader makes a 54x return on $KTA, turning $171K into $9.3M in just three months.Inside the Trade: How It HappenedWhat This Means for Other Investors

Coinomedia2025/06/09 19:40
Trader Turns $171K Into $9.3M with $KTA in 3 Months

Altcoins & ETH Set to Outperform as Market Follows 2020 Roadmap

Crypto market mirrors the 2020/2021 trend. Altcoins and ETH could outpace Bitcoin in the coming months.Crypto Market Sticking to a Familiar PathAltcoins and ETH Ready to OutperformWhat to Expect in the Coming Weeks

Coinomedia2025/06/09 19:40
Altcoins & ETH Set to Outperform as Market Follows 2020 Roadmap