Proposed Bill Classifies Crypto as Commodities, Earns Support

06/03 14:05

Senior Republicans in the US House of Representatives have introduced a draft bill that would classify cryptocurrencies as commodities. The Digital Asset Market Structure Proposal aims to address regulatory issues and provide clarity for the industry while protecting American crypto consumers. The bill has received support from ranking House members and the crypto community, with many expressing that it clarifies jurisdiction, registration, and stablecoins. The proposed legislation would require crypto firms to prove their tokens are commodities and would give the Commodity Futures Trading Commission (CFTC) regulatory oversight over Digital Commodities Exchanges.

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