Bitcoin
Chamber votes to make CFTC the top crypto regulator, a win for the industry
The House approved a major victory for the cryptocurrency industry on Wednesday, voting by a large bipartisan margin to establish the Commodity Futures Trading Commission – rather than the Securities and Exchange Commission, seen as a stricter financial regulator – as the primary overseer. of digital assets.
Crypto leaders have long preferred to have the CFTC over the SEC as the industry’s primary regulator. Under the Financial Innovation and Technology for the 21st Century Act, approved by 279 votes to 136, the CFTC would regulate digital assets on a decentralized blockchain, a definition that would cover the vast majority of cryptocurrencies and exchanges.