The Bill Legislation for Digital Asset has Finally Come Through

Capitol Hill
Capitol Hill - Photo by Joshua Sukoff on Unsplash

On Tuesday, Representatives Patrick McHenry and Stephen Lynch with co-sponsors Glenn Thompson, Budd and Warren Davidson introduced the legislation

Called the “Eliminate Barriers to Innovation Act of 2021” the goal would establish the jurisdiction of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over cryptocurrencies.

Legislation will create a working group composed of industry experts and representatives the purpose is to evaluate the legal and regulatory framework around digital assets in the U.S

Under terms of the bill, the group will form within 90 days composed of SEC and CFTC representatives and non-governmental representatives

Within this year the group will analyze current crypto regulations and submit a report on how current legal measures affect markets and the nation’s competitive position. It will also show the impact on primary and secondary markets.

Source : Coindesk

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