A new bipartisan bill introduced Monday in the Senate aims to fundamentally reform cryptocurrency regulation in the United States by transferring primary oversight from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC), Bloomberg reported Tuesday.
The bill, introduced by Senators John Boozman and Cory Booker, would empower the CFTC to define digital commodities, register trading platforms, and enforce new disclosure rules.
The proposal marks a significant shift in the legislative approach to cryptocurrencies, in line with the administration's overall push for clearer and more favorable policies on digital assets.