SEC to CFTC Crypto Regulation Shift

Senate Bill Proposes Shifting Crypto Oversight to CFTC

• A bipartisan Senate bill suggests transferring crypto regulatory oversight from the SEC to the CFTC.
• The legislation aims to classify most crypto assets as digital commodities, enhancing the CFTC’s role.
• Senators John Boozman and Cory Booker introduced the proposal, focusing on digital commodity spot markets.
• The Boozman–Booker bill builds on the House’s CLARITY Act for clearer trading and token issuance rules.
• The industry supports the move towards a unified US digital asset regulation framework under the CFTC.

A new bipartisan Senate bill proposes shifting crypto oversight from the SEC to the CFTC, aiming to classify most assets as digital commodities. This move is welcomed by industry stakeholders seeking clearer regulatory frameworks.