Four Bills That Will Define The Future Of Digital Assets-

1. Financial Innovation and Technology for the 21st Century Act

This bill, introduced on July 20, aims to create a solid process for determining if a digital asset is a commodity or security and would clarify the jurisdictions of regulators.

2. Responsible Financial Innovation Act (RFIA)

A bill with a similar objective to the previous one is the Lummis-Gillibrand bill or RFIA for short. It aims to clarify the #SEC and CFTC’s roles in crypto regulation. It also aims to give greater consumer protection by providing laws to prevent another FTX-style event from occurring.

3. Digital Asset Market Structure Bill (DAMS)

Introduced on June 1, DAMS is another bill aiming to define the crypto-related roles of the SEC and CFTC and set a framework for regulators to make determinations about whether certain or not #cryptocurrencies are securities or commodities.

4. Digital Commodity Exchange Act (DCEA)

First introduced in September 2020, an updated version of the DCEA was reintroduced in April 2022, adding that stablecoin providers could register as a ‘fixed-value digital #commodity operator’ inclusive of recording and reporting requirements.