The CFTC would regulate digital assets as commodities, while the SEC would regulate them as securities.
The U.S. House of Representatives is expected to vote on a bill that would establish a regulatory framework for digital assets. The bill, known as the Digital Asset Market Structure and Investor Protection Act (H.R. 4763), would divide regulatory authority over digital assets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
The SEC would regulate digital assets that are considered securities, such as tokens that represent ownership in a company or that provide a right to a future payment. The CFTC would regulate digital assets that are considered commodities, such as tokens that are used to trade on a futures exchange.
The bill also creates a new category of digital asset called a “digital commodity”. This category would include tokens that are not securities or commodities, but that are still subject to some regulation.
The bill has been praised by some as a step forward in regulating the digital asset industry. Others have criticized the bill, saying that it gives the SEC too much power.
The bill is expected to be voted on by the House of Representatives in the coming weeks.
