New Legislation Limits SEC Jurisdiction Over Crypto
Friday, 10 May 2024, 20:33
SEC Jurisdiction Over Crypto Cut by New Law
The FIT21 Act represents a collaborative effort by the House Financial Services and Agriculture Committees, reflecting years of bipartisan work.
Key Points:
- Regulatory Clarity: The bill aims to define the roles of the CFTC and SEC in regulating digital assets to bolster consumer protections.
- Market Oversight: Mandates for disclosure requirements and segregation of customer funds to enhance transparency.
- Innovation and Protection: The legislation seeks to propel American leadership in digital finance while ensuring consumer safety.
As the FIT21 Act advances, it aims to solidify America's position as a leader in the global cryptocurrency market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.