Proposed bipartisan legislation aims to clarify the crypto regulatory landscape

New, sweeping bipartisan legislation proposes to define the contours of regulating digital assets and the crypto industry. Among other things, the bill:

  • Gives the CFTC primary jurisdiction over digital assets and exchanges, limiting the SEC’s ability to regulate the industry;
  • Calls for federal and state cooperation in monitoring and regulating the various aspects of the industry, including tax and money transmitter issues; and

Includes a number of measures designed to address cybersecurity and ESG concerns.

Read more here.

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