Regulation
The House approves a bill to change the regulation of cryptocurrencies | Regional/national titles
The House voted to make the Commodity Futures Trading Commission the primary regulator of cryptocurrencies.
If such legislation went into effect, it would replace the Securities and Exchange Commission.
A move that many cryptocurrency industry leaders welcome as they see the SEC as the toughest financial regulator.
Democrats have criticized this potential replacement, saying fraudulent schemes would be difficult to detect and that the cryptocurrency industry would have the upper hand.
The Senate is not expected to pass the bill.
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