U.S. senators announced a bill on Tuesday, which may set new rules for cryptocurrency and hand over supervision to the Commodity Futures Commission (CFTC) Lawmakers believe that the CFTC should play a more important role in the regulation of cryptocurrencies, rather than the SEC, because cryptocurrencies are more like commodities than securities. For cryptocurrencies, CFTC regulation seems more friendly.
Access:
There will be a mid-term election in the United States in a few months. The bill is unlikely to become law in the hands of this Congress, but its framework may be a starting point for debate. The focus of the debate is who will better regulate the cryptocurrency market.
The senator declared that the goal of the bill was to bring stability and clarity to the cryptocurrency market and protect customers.
According to the requirements of the new act, the issuer of stable currency must hold high liquidity assets equal to all circulating stable currencies, and also publicly disclose its assets.