U.S. lawmakers introduced legislation on Thursday aimed at dispelling a cloud of regulatory uncertainty that looms large in the digital assets industry.
The 212-page bill titled the Financial Innovation and Technology for the 21st Century Act seeks to establish a “much-needed regulatory framework” for the digital asset space and marks a “significant milestone,” said House Committee on Agriculture Chairman Glenn Thompson (R-PA).
The bill seeks to establish new definitions, covers digital asset exemptions, and outlines a path for digital asset intermediaries like cryptocurrency exchanges to register with both the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC).
