The leading Republican on the House Financial Services Committee has written to the committee chair to call for more crypto legislation.
of rules for crypto:"We should not cede these important issues to regulators such as SEC or CFTC, or to the judicial branch, to determine. This Committee should do its work to appropriately categorize these assets and determine the rules that will govern their use.""While both Chairmen Benham and Gensler have been extremely vocal, neither the Commodity Futures Trading Commission
nor the Securities and Exchange Commission positions on digital assets is based in statute. U.S.-based trading platforms are not currently under the direct jurisdiction of either the SEC or CFTC. The Committee should further examine whether increased federal regulation of cryptocurrency trading platforms is necessary or appropriate."
The battle over the classification of digital assets has been ongoing for years, but the Biden administration's regulators have been especially assertive. SEC chair Gary Gensler has
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