Bipartisan legislation would regulate cryptocurrencies through the CFTC

A bipartisan group of senators is looking to give the Commodities Futures Trading Commission regulatory authority over cryptocurrencies.

“One in 5 Americans have used or traded digital assets — but these markets lack the transparency and accountability that they expect from our financial system. Too often, this puts Americans’ hard-earned money at risk,” said Stabenow.

The bill would specifically close regulatory gaps by requiring all digital commodity platforms (brokers, dealers trading facilities, etc.) to register with the CFTC.