Rep. Ro Khanna, D-Calif., and three other House lawmakers have introduced a bill to clarify the regulatory oversight process for cryptocurrency trading platforms.
The Digital Commodity Exchange Act of 2022 seeks to regulate spot stablecoin markets and complement investor protection efforts at the Securities and Exchange Commission, Khanna’s office said Thursday.
A document summarizing the bill indicates that the bipartisan legislation would bridge a gap between digital asset regulations set forth by SEC and the Commodity Futures Trading Commission.
“To foster American innovation and tech job growth, Congress must establish a clear process for creating and trading digital commodities that prioritizes consumer protections, transparency and accountability,” Khanna said.
Reps. Glenn “GT” Thompson, R-Penn.; Tom Emmer, R-Minn., and Darren Soto, D-Fla., are the other DCEA sponsors.