US legislator introduces legislation to regulate crypto assets and protect investors

A US congressman has passed legislation on digital asset market structure and investor protection. The legislation would be ” the Securities and Exchange Commission of the Digital Asset Securities Commissioner (SEC) and the Commodity Futures Trading Commission of the digital asset Commissioner (CFTC).”

Digital asset market structure and Investor Protection Act
U.S. Rep. Don Beyer introduced the digital asset market structure and Investor Protection Act last week. According to an announcement on its official website, the legislation would incorporate digital assets into existing financial regulatory structures. Congressman said:

Digital assets and blockchain technology have high hopes, and it’s clear that assets like bitcoin and ether are here to stay forever. Unfortunately, the current market structure and regulatory framework of digital assets are mixed and dangerous for investors and consumers.

“Digital asset owners have been subjected to rampant fraud, theft and market manipulation for years, but Congress has so far ignored calls from industry experts and federal regulators to create a comprehensive legal framework,” he decried.

In particular, the project ” digital assets and digital assets in the securities of a legal definition, and the Securities and Exchange Commission (“SEC”), Securities and Commodity Futures Trading Commission (CFTC) will have powers in relation to digital assets.”Also will be:

Ensure legal certainty regarding regulatory status of 90% of the digital asset Sunday (by market capitalization and trading volume) through Sec / CFTC joint regulation.

In October, the bill would require “digital asset transactions not included in a publicly available ledger to be reported to the registered trading repository of digital assets within 24 hours to minimize the possibility of fraud and increase transparency.”

Federal Reserve will” clearly”

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