A group of U.S. congressmen reintroduced внесла two bills for consideration that would require the Commodity Futures Trading Commission (CFTC) to clarify the regulation of the digital asset market.
Lawmakers Darren Soto, Ted Budd, Ro Khanna and Warren Davidson introduced the refined version of the bill “On Virtual Currency Markets and Regulatory Competitiveness.”
The document calls for studying the CFTC’s global experience in rulemaking. In particular, how Congress could circumvent the risks and foster developments for blockchain technology in the United States. The document’s co-author was Tom Emmer.
Another bill, “On Consumer Protection in the Virtual Currency Space,” provides for examining CFTC market manipulation in the cryptocurrency market and ways to prevent it through appropriate regulatory changes.
This is the third attempt to push the bills to passage. Soto said they had previously not moved beyond the appropriations stage. The initial versions of the documents were prepared by the initiative group in late 2018.
In August, Don Stump said that the agency’s job — to regulate derivative financial instruments, but not the goods.
Earlier, former agency head Christopher Giancarlo called the Commission the sole regulator, empowered to oversee Bitcoin and other cryptocurrencies.
Prior to that, the head of the SEC Gary Gensler characterized most digital assets as unregistered securities that should meet the requirements of the agency he leads.
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