Bipartisan Senators Introduce Bill to Regulate Digital Assets
Senators Kirsten Gillibrand and Cynthia Lummis recently introduced a bipartisan draft law whose objective is to bring the “Wild West” digital assets space under the watchful eye of regulators. Under the proposed law, many digital assets would be regarded as commodities, much like oil and wheat, and the duty of overseeing this market would fall upon the Commodities Futures Trading Commission (CFTC). The two senators said their long-awaited law aimed at availing a regulatory framework through which flexibility, financial innovation, robust protections for consumers and transparency would be promoted in a responsible way that brings digital assets under the ambit…
