Congressman John Rose would make the agencies work together and listen to user and industry representatives.
The United States Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) might get along better if they talked more. At least, that is what John Rose, House of Representatives member from Tennessee and Financial Services Committee member, hopes. He introduced a bill on Sept. 12 to create a joint advisory committee on digital assets between the agencies.
The Joint Advisory Committee on Digital Assets would be created under Rose’s bill titled ‘‘Bridging Regulation and Innovation for Digital Global and Electronic Digital Assets Act.’’
Rose’s bill would create a joint committee that would provide advice to the agencies, further law harmonization, “examine and disseminate methods for describing, measuring, and quantifying digital asset[s]” and examine ways digital assets and blockchain can improve efficiency and consumer protection in financial markets.
