A new bill aimed at improving the regulatory framework for digital assets has been introduced in the U.S. House of Representatives. The “BRIDGE Digital Assets Act,” proposed by Congressman John Rose (R-TN), seeks to establish a joint advisory committee on digital assets between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), according to Fox News reporter Eleanor Terrett.
The proposed advisory committee would consist of 20 private-sector participants from various sectors of the cryptocurrency industry. Its purpose is to provide advice and guidance to both the SEC and CFTC on developing rules, regulations, and policies related to digital assets, ensuring that industry insights are incorporated into regulatory decisions.
Congressman Rose, a member of the House Financial Services Committee, emphasized the need for a more collaborative approach to regulating the crypto sector. “The current heavy-handed, enforcement approach to regulation is not working and instead encourages investment in this critical innovation overseas,” Rose said. “The Digital Assets Joint Advisory Committee will provide a framework for governments and the private sector to work together to shape the regulatory environment for digital assets and private sector participants towards success.”
