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ARTICLE · 06 MAY 2022

Bill In U.S. House Would Limit SEC's Reach Over Crypto Exchanges

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The Digital Commodity Exchange Act of 2022(DCEA), introduced by Republican representatives Glenn Thompson of Pennsylvania and Tom Emmer of Minnesota...

United StatesFinance and Banking
David A. Lopez-Kurtz
David A. Lopez-Kurtz

The Digital Commodity Exchange Act of 2022(DCEA), introduced by Republican representatives Glenn Thompson of Pennsylvania and Tom Emmer of Minnesota, along with Democratic representatives Darren Soto of Florida and Ro Khanna of California, would create a definition for "digital commodity" and allow the Commodity Futures Trading Commission (CFTC) to oversee companies issuing or letting people trade certain tokens, while having the Securities and Exchange Commission (SEC) continue to oversee tokens that fall under U.S. securities laws.

It is critical that market participants and blockchain entrepreneurs consider the effects of emerging regulation and the possible benefit of implementing an affirmative compliance program to best avail themselves of existing and developing infrastructure.

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