A Historic Day for Crypto Policy
The Breakdown
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The Market Structure Bill and the CFTC
The bill provides a pathway to register token issuance with the SEC and defines a process to certify a token network has sufficiently decentralized enough to be considered a commodity. The decision to assign the bulk of regulatory power over crypto commodities to the CFTC was one of the key points of disagreement during the hearing. Another issue raised was that the CFTC might not be adequately funded to take on the crypto jurisdiction.
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