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Competing Crypto Bill Would Grant Wide Powers to CFTC If Passed

As Congressional representatives mull giving more power to the Securities and Exchange Commission to regulate the crypto industry, a contrasting bill was introduced to instead give the Commodities Futures Trading Commission more authority. So reports PBS

The bill was proposed by Sen. Debbie Stabenow, the agriculture committee chair, and her Republican counterpart Sen. John Boozman. According to the legislation, which comes at a time of great tumult in the crypto space, the Commodities Futures Trading Commission would be made the “default regulator for cryptocurrencies” and see a boost in funding backed by proposed user fees.

Read the full article from PBS.

 

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