U.S. Congressman initiates new bill to establish a Joint Advisory Committee on Digital Assets between the SEC and CFTC

ChainCatcher news, according to Fox News reporter Eleanor Terrett, Tennessee Republican Congressman John Rose, a member of the House Financial Services Committee, is introducing a new bill called the BRIDGE Digital Asset Act, which will establish a Digital Asset Joint Advisory Committee between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC).

It is reported that the purpose of this committee is to allow the industry to provide recommendations to these two agencies regarding rules, regulations, and policies related to digital assets. The committee will consist of 20 private sector participants representing various interests in the Crypto space.

John Rose stated, "The current harsh, enforcement-driven regulatory approach is not working and is instead encouraging investment in this critical innovation overseas. The Digital Asset Joint Advisory Committee will provide a framework for government and private sector collaboration to successfully navigate the regulatory environment for digital assets and private sector participants."