BREAKING: US House To Vote On Crypto Bill For Clarity On SEC or CFTC Jurisdiction In Weeks
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The US House Financial Services Committee will vote on a comprehensive crypto bill to bring regulatory clarity to crypto in the US. The bill, which was introduced by Rep. Patrick McHenry (R-NC), would clarify which federal agency has jurisdiction over cryptocurrency products. Currently, there is no clear answer to this question, which has led to uncertainty in the crypto industry.
The bill would give the Securities and Exchange Commission ( #SEC ) jurisdiction over most cryptocurrency products, while giving the Commodity Futures Trading Commission (CFTC) jurisdiction over certain derivatives and other products. The bill would also create a new regulatory framework for cryptocurrency exchanges and other businesses that deal in crypto.
The vote on the bill is expected to take place in the coming weeks. If the bill passes, it would be a major step forward for the crypto industry in the US. It would provide much- needed clarity and certainty for businesses and investors, and it could help to legitimize the crypto industry in the eyes of regulators and lawmakers.
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