To be a commodity, or a security, that is the question.
Another crypto-related bill was introduced in Congress last week with the Digital Commodity Exchange Act of 2022 (DCEA), which built on the DCEA of 2021.
Four members of the Congressional Blockchain Caucus are leading the crypto-as-a-commodity charge beginning with Representative Glenn “GT” Thompson (R, PA), who is the Ranking Member of the House Agriculture Committee, along with co-sponsors Rep. Ro Khanna (D, CA), Rep. Darren Soto (D, FL) and Rep. Tom Emmer (R, MN).
H.R. Bill 7614, which was referred to the House Ag Committee, aims to assign responsibility for crypto exchanges with the Commodity Futures Trading Commission (CFTC) rather than the Securities and Exchange Commission where exchanges tradable assets would therefore be associated with securities.
Continue reading “House Gives CFTC Responsibility with Digital Commodity Exchange Act”