Bill Paves the Way for CFTC’s Crypto Oversight
Republican and Democratic lawmakers last week (April 28) introduced the Digital Commodity Exchange Act of 2022 in the House, which essentially authorizes the Commodity Futures Trading Commission (CFTC) to register and regulate trading venues offering spot or cash digital commodity markets as digital commodity exchanges (DCEs).
Under the bill, the CFTC would extend its oversight powers to cryptocurrency activities via DCE. The bill establishes new requirements for DCE. For instance, a registered DCE must monitor trading activity, prohibit abusive trading practices, establish minimum capital requirements, report certain trading information publicly, avoid conflicts of interest and establish governance standards and adopt cybersecurity measures.
https://www.pymnts.com/cryptocurrency/2022/bipartisan-bill-paves-the-way-for-cftcs-crypto-oversight/
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