05.22.24

House Passes Bill Outlining New Framework for Crypto Regulation

by: Julia Shapero

The U.S. House of Representatives passed a bipartisan measure laying out a new framework for when cryptocurrencies should be regulated by the U.S. Securities and Exchange Commission (SEC) or Commodity Futures Trading Commission (CFTC), despite opposition from SEC Chair Gary Gensler. The bill would classify digital assets as commodities regulated by the CFTC if the blockchain on which they run is “functional and decentralized.” If their blockchain is “functional but not decentralized,” they would be considered securities and fall under the mandate of the SEC.

Read the full article on The Hill