Congress members to discuss Bitcoin and crypto market structure Tuesday
US Congress members will discuss crypto market structure Tuesday, aiming for regulatory clarity and potentially classifying Bitcoin under CFTC oversight.Summary
Members of Congress are scheduled to meet on Tuesday to discuss the structure of the Bitcoin and broader cryptocurrency market, a move intended to provide regulatory clarity to the digital asset industry. A key focus is a draft bill from the Senate Agriculture Committee that proposes dividing crypto oversight between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), with Bitcoin likely falling under the CFTC as a commodity-like asset. This legislative effort follows recent bipartisan meetings and closed-door discussions, aiming to address the lack of clear regulation that has deterred institutional investment. Industry estimates suggest a comprehensive market structure bill could unlock trillions in capital. The absence of clear US regulation has also led crypto companies to relocate to jurisdictions with more defined frameworks, such as the EU and UAE. This current legislative push builds upon earlier proposals like the Lummis-Gillibrand bill and the FIT21 legislation.
(Source：Crypto Briefing)