THELOGICALINDIAN - A US agent has alien the Agenda Asset Market Structure and Investor Protection Act The legislation would accommodate the Balance and Exchange Commission SEC with ascendancy over agenda asset balance and the Commodity Futures Trading Commission CFTC with ascendancy over agenda assets
Digital Asset Market Structure and Investor Protection Act
U.S. Representative Don Beyer alien the Agenda Asset Market Structure and Investor Protection Act aftermost week. The legislation would absorb agenda assets into absolute banking authoritative structures, according to an advertisement acquaint on his official website. The agent said:
“Digital asset holders accept been subjected to aggressive fraud, theft, and bazaar abetment for years, yet Congress has ahead abandoned the entreaties of industry experts and federal regulators to actualize a absolute acknowledged framework,” he described.
Specifically, the bill would “Create approved definitions for agenda assets and agenda asset balance and accommodate the Balance and Exchange Commission (SEC) with ascendancy over agenda asset balance and the Commodity Futures Trading Commission (CFTC) with ascendancy over agenda assets.” It will also:
In addition, the bill will “Require agenda asset affairs that are not recorded on the about broadcast balance to be appear to a registered Agenda Asset Trade Repository aural 24 hours to abbreviate the abeyant for artifice and advance transparency.”
The Federal Reserve will accept “explicit ascendancy to affair a agenda adaptation of the U.S. dollar,” the bill added states, abacus that the U.S. Treasury Secretary will accept the “authority to admittance or prohibit U.S. dollar and added fiat-based stablecoins.” The full bill can be apparent here.
What do you anticipate about this Digital Asset Market Structure and Investor Protection bill? Let us apperceive in the comments area below.
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