Bipartisan Bill Aims to Realign Crypto Regulation From SEC to CFTC

A major shift in cryptocurrency regulation is gaining traction with bipartisan support as senators propose transferring regulatory authority from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC). This move promises a more streamlined approach to governing digital assets, aiming to end years of regulatory uncertainty. The proposed legislation seeks to classify most cryptocurrencies as digital commodities rather than securities, granting the CFTC expanded supervisory power over these markets.