When will the draft cryptocurrency bill be published?

When will the draft cryptocurrency bill be published?

The same, promoted by the US senator, Kirsten Gillibrand, will be shown in a very short time. The detail.


The project of bipartisan law addressed to cryptocurrencies sponsored by US Senator Kirsten Gillibrand and her colleague, Cynthia Lummiswill be released to the new Congress after being postponed last year.

The hearing of the Senate Agriculture Committee that was held on March 8, in which the supervision of the Commodity Futures Trading Commissionshowed Gillibrand asking the president of the CFTC, Rostin Behnamyour opinion and feedback on the project of cryptocurrency law aforementioned and related to achieving a regulatory framework for the cryptocurrency industry.

According to the site cointelegraph.comGillibrand confirmed that the next draft of the bill will be available in the middle of next month.

“Our ambition is to make sure there is a place to start a national conversation about a holistic approach to digital assets,” Gillibrand said. “To ensure that digital assets have the character of securities are regulated by the secso that the assets that have the [ininteligible] of basic products are regulated by the CFTCto make sure stablecoins they can be overseen by the OCC, to make sure there are tax provisions for the whole industry,” he added.

Behnam, for his part, recalled that Gillibrand and Lummis had “carefully and thoughtfully considered all components of the market” in the most recent draft of the cryptocurrency bill, specifically citing potential concerns with stablecoins and cybersecurity. The cryptocurrency industry experienced a major shake-up after the inception of the bill Lummis-Gillibrand in March 2022, with the collapse of companies like FTX, Voyager Digital, BlockFi, Terra and others.

Also, the president of the CFTC added: “I think given what we experienced and what we saw with FTXa premium on obviously asset segregation, on customer conflicts of interest and ensuring that those conflicts are walled off very carefully, I think there are different questions that we probably have to ask in many respects with respect to digital assets to the light of the cybersecuritythe risk of the seller, the third-party service providers”.

Source: Ambito

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