“The crypto industry wants clarity,” HouseGOP members say. They introduced a new crypto oversight bill this week that aims to establish a regulatory framework to protect investors in the crypto sector.
, aims to lay down a regulatory path for crypto exchanges to register with the U.S. Securities and Exchange Commission , and would enable them to trade digital securities, commodities and stablecoins all in one place.
“The crypto industry wants clarity and our collaborative bill gives both the CFTC and SEC a seat at the table. Our bill establishes clear principles to ensure financial security and certainty as digital asset developers continue to innovate,” said Dusty Johnson in the statement.that in his view"completely alters the value prop[osition] of the bill" and would reintroduce the ambiguity it seeks to resolve.
On page 10, the revised bill excludes from the definition of"digital assets" a range of traditional securities such as stocks, bonds,"transferable share[s],""certificate[s] of interest or participation in any profit-sharing agreement," and so on. As a result, Shapiro wrote on Twitter, a range of assets found in the decentralized finance market, such as Compound's
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