Newly submitted legislation in Congress seeks to push the Commodities Futures Trading Commission (CFTC) to create reports to bring more clarity to digital asset markets.
Rep. Darren Soto (D-FL) introduced the two bills yesterday, co-sponsored by Reps. Ted Budd (R-NC), Ro Khanna (D-CA) and Warren Davidson (R-OH). The co-sponsors are all members of the Blockchain Caucus, a coalition of lawmakers focused on digital asset issues.
Rep. Tom Emmer (R-MN) also co-sponsored the first of the two pieces, the so-called U.S. Virtual Currency Market and Regulatory Competitiveness Act of 2021. It directs the CFTC to produce a study comparing the regulation of virtual currencies around the world, and eventually make recommendations to how regulatory structures in the U.S. can promote competition and innovation in the digital asset space.
The Virtual Currency Consumer Protection Act of 2021 directs the CFTC to produce a report specifically on price manipulation in virtual asset markets and inc
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