cryptobriefing.com
Key Takeaways
- A bipartisan Senate bill proposes moving crypto regulatory oversight from the SEC to the CFTC.
- The legislation aims to classify most crypto assets as digital commodities and strengthen the CFTC's role and resources.
A new bipartisan Senate draft could reshape US crypto regulation by giving the CFTC, not the SEC, direct authority over digital commodity spot markets.
Senators John Boozman and Cory Booker on Monday proposed a bipartisan bill to formally designate the CFTC as the primary regulator for spot digital commodity markets. The Boozman–Booker proposal would treat most crypto as commodities, creating clearer rules for trading and token issuance.
Building on the House’s CLARITY Act, the measure aims to balance innovation with consumer protection while ensuring the agency has the resources to oversee the fast-growing sector.
The industry, which has long pushed for CFTC leadership, has welcomed the move as a major step toward unifying US digital asset regulation under one clear framework.