CFTC Takes Center Stage in Proposed Crypto Regulatory Bill

The post CFTC Takes Center Stage in Proposed Crypto Regulatory Bill appeared first on Coinpedia Fintech News

Senators Cynthia Lummis and Kirsten Gillibrand have reintroduced a bill that proposes the Commodity Futures Trading Commission (CFTC) take charge of regulating cryptocurrencies, instead of the Securities and Exchange Commission (SEC). The bill requires crypto exchanges to operate under CFTC oversight, while stablecoin issuers must be regulated depository institutions. It clearly defines the boundaries between securities oversight and other aspects of crypto regulation. Cryptocurrency issuers would need to report to the SEC twice a year unless their tokens represent debt or equity. The bill also includes provisions for risk management standards and consumer protection.