Senate Plan Will Put Bitcoin, Ether Under Commodity Regulator’s Watch

WASHINGTON – Leaders of a Senate committee are introducing legislation that would assign oversight of the two largest cryptocurrencies, bitcoin and ether, to the federal agency that regulates milk futures and interest rate swaps.

Senate Agriculture Committee Chairwoman Debbie Stabenow (D., Mich.) and top Republican John Boozman of Arkansas unveiled a plan Wednesday that would empower the Commodity Futures Trading Commission to regulate spot markets for digital commodities, a newly created asset class. Currently, the CFTC has authority to oversee derivatives, such as futures and swaps, rather than underlying commodities.

Source link

Back to top button