U.S. House of Representatives Initiates New Bill to Establish Joint Advisory Committee on Digital Assets between SEC and CFTC

BlockBeats reported that on September 13, Fox News reporter Eleanor Terrett reported that John Rose, a Republican congressman from Tennessee, is a member of the Republican Committee on Financial Services of the U.S. House of Representatives. He is proposing a new bill called the "BRIDGE Digital Assets Act", which will establish a digital asset joint advisory committee between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). It is reported that the purpose of the committee is to allow the industry to provide advice to the two agencies on digital asset-related rules, regulations and policies. The committee will be composed of 20 private sector participants who represent different interests in the Crypto field.

John Rose said: "The current harsh, enforceable regulatory approach does not work, but encourages investment in this key innovation overseas. The Digital Assets Joint Advisory Committee will provide a partnership framework for the government and the private sector to enhance the regulatory environment for digital assets and private sector participants."