Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Crypto-Currency Act of 2020
This bill establishes agency oversight of certain digital assets and requires these agencies to publish (1) the exchanges trading these assets, and (2) the requirements to create or trade these assets. The bill generally defines these assets as using a decentralized digital distributed ledger (e.g., blockchain) for transactions.
The bill establishes the Commodity Futures Trading Commission as the primary regulator of cryptocommodities. The bill also establishes the Financial Crimes Enforcement Network and the Office of the Comptroller of the Currency as the primary regulators of cryptocurrencies. Finally, the bill establishes the Securities and Exchange Commission as the primary regulator of cryptosecurities and synthetic stablecoins.
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