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Tennesse Republican pitches joint SEC-CFTC crypto oversight

Author: Content Editor
A new crypto bill, the Bridging Regulation and Innovation for Digital Global and Electronic Digital Assets, has been introduced on Capitol Hill. The bill aims to establish a Joint Advisory Committee that combines the oversight powers of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The committee would include 20 individuals from the cryptocurrency industry and would meet regularly to discuss and develop a digital asset framework. The bill is part of ongoing efforts by American lawmakers to standardize regulations for cryptocurrencies. The SEC and CFTC have disagreed on how digital assets should be treated, with SEC Chair Gary Gensler offering vague responses and CFTC Chair Rostin Behnam categorizing Ethereum (ETH) as a commodity.

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