The House of Representatives has approved a bill that would transfer regulatory authority for most forms of cryptocurrency from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC). The bill received support from both Democrats and Republicans and aims to clarify the regulatory framework for digital assets. The White House has expressed opposition to the bill, but it is unclear whether President Biden will veto it, potentially putting him at odds with his own SEC chairman. Former President Trump has shown support for the bill and has used the SEC's recent crackdown on crypto to criticize President Biden. The fate of the legislation in the Senate, which is controlled by Democrats, is uncertain, and some Democrats have voted with Republicans to undo crypto SEC regulations.
All Comments