Citing Cointribune, the US Senate Agriculture Committee has introduced a bill to clarify the regulatory roles of the CFTC and SEC in the crypto market. Led by Senators Boozman and Booker, the bill defines key concepts such as blockchain, DeFi, and DAOs, and assigns the CFTC a central role in overseeing the spot market. However, several sections remain under discussion, reflecting ongoing disagreements within Congress. The bill also faces criticism from some Democratic senators who argue that the Agriculture Committee should not have jurisdiction over certain aspects, such as blockchain developers. The proposal aligns with the House's CLARITY Act, which also granted the CFTC a central role, but the exact terms of a potential merger remain unclear.
US Senate Unveils Crypto Bill to Clarify CFTC and SEC Roles
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