US House of Representatives proposed to appoint the CFTC as crypto regulator
Legislators believe that cryptocurrencies, which are not securities, should be classified as digital commodities
29.04.2022 - 16:15
258
2 min
0
What’s new? A bipartisan group of legislators in Washington has introduced an updated bill to regulate developers, dealers, and exchanges working with cryptocurrency and stablecoins, bringing them under the control of the US Commodity Futures Trading Commission (CFTC). “The Digital Commodity Exchange Act of 2022” (DCEA) was reintroduced in Congress by Republican representatives Glenn Thompson and Tom Emmer, supported by Democratic co-sponsors Darren Soto and Ro Khanna.
What is the essence of the bill? The DCEA will authorize the CFTC to register and regulate exchanges that offer spot trading in cryptocurrencies. The same rules will apply to the listing of digital assets on cryptocurrency exchanges as they do to providers of other commodities.
Cryptocurrency developers will be able to register with the CFTC and provide the information needed for public trading and listing on the exchange. A summary of the law states that registration will ensure the accuracy of records and standardization of public information about cryptocurrency and may facilitate listing on the exchange.
The DCEA will not affect the authority of the US Securities and Exchange Commission (SEC) to regulate the offering of digital securities. Instead, the law classifies cryptocurrencies, which are not securities, as digital commodities subject to regulation by the CFTC.
What happened before? In February, SEC chairman Gary Gensler stated that the securities regulator was working with the CFTC on crypto regulation. He said that the SEC was establishing contact with exchanges, crypto, and lending platforms to ensure investors were protected.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$98 362
BTC
+0.56%
-
Ethereum
$3 364.8
ETH
-1.26%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.45
XRP
-2.08%
-
Dogecoin
$0.433873
DOGE
-0.23%
-
Cardano
$1.03
ADA
-4.1%
-
Stellar XLM
$0.559349
XLM
+12.01%
-
Polkadot
$8.96
DOT
+4.7%
-
Bitcoin Cash
$517.23
BCH
+1.96%
-
Litecoin
$97.98
LTC
-1.11%