SEC-CFTC Digital Asset Advisory Committee Proposed in New Bill
CryptoNewsTerminal Staff12 Sep, 2024
SEC-CFTC Digital Asset Advisory Committee Proposed in New Bill
Rep. John Rose (R-TN) is reportedly planning to introduce the “Bridge Act,” which would create a joint SEC-CFTC Digital Asset Advisory Committee. The committee would include around two dozen individuals from the crypto industry, according to a tweet by Fox Business reporter Eleanor Terrett. The purpose of the committee would be to advise the SEC and CFTC on the development of regulations for digital assets. This includes providing recommendations on how to classify digital assets, address market manipulation, and protect investors. The creation of the committee is a sign that Congress is taking the issue of digital asset regulation seriously. It also signals a willingness to work with the crypto industry to develop a regulatory framework that is both effective and fair. The Bridge Act is still in its early stages, and it is unclear whether it will be passed into law. However, the proposal is a positive step towards addressing the need for clear and consistent regulation of digital assets.
