New Crypto Bill Aims to Harmonize SEC and CFTC Regulations
- Tennessee Congressman John Rose introduces a bill to reform U.S. digital asset regulation.
- The bill proposes a committee of 20 private sector members to advise SEC and CFTC.
- Focuses on decentralization, functionality, and security to replace “regulation-by-enforcement”.
- Mandates improved customer protections, transparency, and reduced transaction costs.
One unique aspect of this bill is its emphasis on involving diverse stakeholders from the private sector, including digital asset issuers, academic researchers, and users, to ensure well-rounded regulatory advice.
If passed, the BRIDGE Digital Assets Act could significantly streamline crypto regulation, fostering innovation and investment within the U.S. However, current scrutiny of SEC Chairman Gary Gensler may complicate the bill’s enactment.
