Republican lawmakers Patrick McHenry and Glen Thompson have introduced a draft bill proposing clear roles and delineation of authority between the SEC and CFTC regarding crypto.
A Clearer Regulatory Plan
The draft bill, released on Friday, provides crypto assets and exchanges a clearer regulatory plan, enabling the trading of digital assets on more conventional trading platforms. It also seeks to introduce a division of authority between the two top US financial regulators. The draft, published on the 2nd of June, 2023, proposes establishing a functional framework that provides regulatory clarity for cryptocurrency firms and exchanges operating in the United States.
“Key House Republicans Unveil Crypto Market Structure Draft Bill The draft legislation was unveiled today by House Financial Services Committee Chairman @PatrickMcHenry and House Agriculture Committee Chairman @CongressmanGT.”
The bill would prohibit the United States Securities and Exchange Commission (SEC) from
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