Pennsylvania and California Reps to Introduce New Bill to Give CFTC More Control of Cryptocurrency Exchanges - BitcoinEthereumNews.com
The CFTC is being considered the most friendly regulatory agency for the digital currency space. Glen William “GT” Thompson, U.S. Rep. for Pensylvania and California Rep. Ro Khana are teaming up on a bill that would grant the Commodity Futures Trading Commission (CFTC) more power over multiple cryptocurrencies in the spot market. The bill, if passed, would give the CFTC direct oversight over a large part of cryptocurrency exchanges, and the federal agency would be allowed to treat digital currency trading platforms like designated contract markets. Una sa @politico Morning Money: House Ag ranking member @CongressmanGT (R-Pa.) and @RepRoKhana are introing a bill that would give CFTC oversight of crypto exchanges. nhttps://t.co/Txn1MVV4EQ — Sam Sutton (@samjsutton) Abril 28, 2022 According to people familiar with the matter, the bill, which is set to be introduced later today, is also co-sponsored by Rep. Darren Soto, a member of the Congressional Blockchain Caucus. It is worth noting that the bill is originating from the House Agriculture Committee, which oversees the Commodity Futures Trading Commission. The latest push by lawmakers is part of efforts to establish cryptocurrency bills for the nascent industry, following a directive by the Joe Biden administration in the recently published cryptocurrency executive order. Calls to Give CFTC