{"id":60787,"date":"2022-04-29T13:28:43","date_gmt":"2022-04-29T10:28:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=60787"},"modified":"2025-09-05T05:21:53","modified_gmt":"2025-09-05T02:21:53","slug":"us-congress-to-consider-bill-granting-cftc-oversight-of-crypto-exchanges","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-congress-to-consider-bill-granting-cftc-oversight-of-crypto-exchanges\/","title":{"rendered":"US Congress to consider bill granting CFTC oversight of crypto exchanges"},"content":{"rendered":"<p>A group of members of the U.S. House of Representatives has introduced for consideration the Digital Commodity Exchange Act (DCEA) of 2022, establishing direct oversight over certain types of crypto transactions and Bitcoin exchanges under the aegis of the <span data-descr=\"U.S. Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Today, <a href=\"https:\/\/twitter.com\/HouseAgGOP?ref_src=twsrc%5Etfw\">@HouseAgGOP<\/a> Leader <a href=\"https:\/\/twitter.com\/CongressmanGT?ref_src=twsrc%5Etfw\">@CongressmanGT<\/a> is joined by <a href=\"https:\/\/twitter.com\/RepRoKhanna?ref_src=twsrc%5Etfw\">@RepRoKhanna<\/a>, <a href=\"https:\/\/twitter.com\/RepTomEmmer?ref_src=twsrc%5Etfw\">@RepTomEmmer<\/a>, &amp; <a href=\"https:\/\/twitter.com\/RepDarrenSoto?ref_src=twsrc%5Etfw\">@RepDarrenSoto<\/a> in introducing the bipartisan Digital Commodity Exchange Act, or <a href=\"https:\/\/twitter.com\/hashtag\/DCEA?src=hash&#038;ref_src=twsrc%5Etfw\">#DCEA<\/a> \u2013 a framework for regulatory certainty in digital commodity markets.<\/p>\n<p>Full release \ud83d\udc47<a href=\"https:\/\/t.co\/CzfbMyJoBl\">https:\/\/t.co\/CzfbMyJoBl<\/a> <a href=\"https:\/\/t.co\/MBZep9ZysE\">pic.twitter.com\/MBZep9ZysE<\/a><\/p>\n<p>\u2014 House Ag GOP (@HouseAgGOP) <a href=\"https:\/\/twitter.com\/HouseAgGOP\/status\/1519759858303741954?ref_src=twsrc%5Etfw\">April 28, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><a href=\"https:\/\/t.co\/CzfbMyJoBl\">Document<\/a> was presented by Republicans Glenn Thompson and Tom Emmer, as well as Ro Khanna and Darren Soto of the Democratic Party.<\/p>\n<p>The law introduces the term \u201cdigital commodity.\u201d Regulatory questions concerning issuers of such assets and their trading would fall under the jurisdiction of the CFTC. <span data-descr=\"Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> will continue to oversee tokens with securities-like properties.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cUnder \u201cdigital commodity\u201d is understood any form of interchangeable intangible personal property that can be owned exclusively and transferred from person to person without the need to rely on a middleman\u201d<\/em>, the document explains.<\/p>\n<\/blockquote>\n<p>The definition does not include references to stocks, debt instruments and securities in general, which will avoid overlap with the SEC\u2019s remit.<\/p>\n<p>Digital commodities may be sold only on a CFTC-registered exchange. The platform must comply with certain requirements, including custody and protection of assets by qualified custodians, and preventing the commingling of client and corporate funds.<\/p>\n<p>DCEA <a href=\"https:\/\/forklog.io\/v-ssha-predlozhili-regulirovat-kriptobirzhi-na-natsionalnom-urovne\/\">was introduced for consideration<\/a> by Republican Michael Conaway back in 2020. In November 2021 a group of congressmen led by Thompson <a href=\"https:\/\/forklog.io\/kongressmen-ssha-predstavil-zakonoproekt-o-nadzore-cftc-za-kriptobirzhami\/\">introduced<\/a> the current updated version of the bill.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cClosing gaps in the spot market is an important part of the regulatory puzzle,\u201d<\/em> Thompson said.<\/p>\n<\/blockquote>\n<p>Earlier, Rostin Benham, then a candidate to head the CFTC, proposed granting the agency the status of the main federal regulator for the cryptocurrency market.<\/p>\n<p>On March 9, President Joe Biden <a href=\"https:\/\/forklog.io\/bajden-vypustil-ukaz-o-koordinatsii-federalnyh-agentstv-v-regulirovanii-kriptovalyut\/\">signed<\/a> an executive order coordinating federal agencies in regulating digital assets.\u00a0<\/p>\n<p>At the end of March, Senators Cynthia Lummis and Kirsten Gillibrand <a href=\"https:\/\/forklog.io\/senatory-ssha-raskryli-detali-zakonoproekta-o-regulirovanii-kriptovalyut\/?doing_wp_cron=1649410409.1517779827117919921875\">revealed details of the bill<\/a>, aimed at providing clarity in regulating cryptocurrencies. Among other things the document clarifies the definition of broker in infrastructural terms and provides for the creation of a dedicated supervisory agency.<\/p>\n<p>Earlier Coinbase CEO <a href=\"https:\/\/forklog.io\/glava-coinbase-sprognoziroval-razdelenie-nadzora-nad-kriptoindustriej-mezhdu-vedomstvami\/\">predicted<\/a> a split of oversight of the crypto industry between agencies.<\/p>\n<p> Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full stream of news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A group of members of the U.S. House of Representatives has introduced for consideration the Digital Commodity Exchange Act (DCEA) of 2022, establishing direct oversight over certain types of crypto transactions and Bitcoin exchanges under the aegis of the CFTC.<\/p>\n","protected":false},"author":1,"featured_media":60788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[879,36,128],"class_list":["post-60787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cftc","tag-regulation","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=60787"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60787\/revisions"}],"predecessor-version":[{"id":60789,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60787\/revisions\/60789"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/60788"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=60787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=60787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=60787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}