US Senate Bill Will Give CFTC Crypto Market Oversight – but Doesn't Say How Much

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A new bill in the Senate Agriculture Committee would give the CFTC clearer jurisdiction over some cryptocurrencies – but it stops short of specifying how wide this jurisdiction actually is. jesseahamilton reports

. Apart from that, the legislation says the CFTC can affix its commodities stamp on whatever crypto assets aren't considered by the SEC to be securities.for new authority to regulate digital commodity spot markets, where the assets directly change hands. The new bill would grant that authority. The CFTC would be given “exclusive jurisdiction over any account, agreement, contract or transaction involving a digital commodity trade,” according to the text of the bill.

“We are at a critical inflection point where new legislative authority is needed to clarify ambiguities and provide a regulatory framework,” Behnam said in a statement. Stabenow said it’s “very realistic” they could reach a committee markup in September, and she noted that only needing to get the bill through a single committee streamlines the process.in the House of Representatives, but it hasn’t yet reached a committee vote.

Boozman said the legislation assumes the commodities and securities agencies will work closely with each other, though he said “the CFTC is the place” where authority over the crypto industry belongs.

 

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CFTC Yo KevPatCur what do you think about this?

CFTC By the time we get some regulation bills to passed, MC will be back above 2 trln

CFTC No way

CFTC The fed needs to be kept out of and kept away from crypto. Period. They’re nothing but corrupt.

CFTC Anything would be better than GaryGensler

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CFTC How may I implement something like this?

🚀 Thankss a millon

CFTC porquee everybody is hiding it

jesseahamilton CFTC jesseahamilton You might also be interested in 6 on this list! Possible tax overhaul if the IRS treats crypto as a commodity.

CFTC jesseahamilton Statism is a hell of a religion. Hopefully a dying one.

DigPerspectives CFTC jesseahamilton Agriculture committee?

CFTC jesseahamilton fkn hysterical. from day 1, almost these coins were dreamed up to avoid govt fuckery...and everyday its a new story about govt fuckery

DigPerspectives CFTC jesseahamilton Just give us xrp clarity. We can wait for the rest

CFTC jesseahamilton CryptoGrid2

CFTC jesseahamilton Perhaps the Agriculture Committee should work on prohibiting fucking WEF billionaires, corporations, and other scum from buying US FARMLAND and not worry about crypto. Hmm?

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