A long -awaited White House report aims to end the years of regulatory confusion for American digital asset companies by clearly dividing the surveillance responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
The Policy Report describes a new regulatory structure
President Donald Trump’s working group on digital assets has published its recommendations this week, focusing on market structure, banking regulations and strengthening the domination of the US dollar through stablescoins and updated tax laws.
A centerpiece of the report is the proposal to give the CFTC authority on the ad hoc markets for digital assets, while the SEC would continue to supervise the securities markets.
Regulatory clarity sought for Bitcoins companies
Edwin Mata, Blockchain lawyer and CEO of Brickken, underlined the meaning of the decision, declaring:
“Let each body supervise the instruments that are best aligned with their expertise avoid duplication and confusion, allowing coherent legal interpretations.”
Mata added that this division is vital in the United States, where the legal previous plays a dominant role.
The overlap of the previous agency had led to fragmented legal interpretations and left the courts to resolve disputes.
Industry reaction and Bitcoin reserve issues
Bitfinex analysts argue that recommendations can respond to a key obstacle to traditional adoption by providing limits for the application of regulations.
However, they noted persistent concerns about the continuation of the application of the SEC and the absence of details on a Bitcoin reserve promised us. Analysts said:
“(The concerns include) the push of the report to intensify the application of the SEC against non -compliant companies, the absence of details on a reserve of promised American bitcoin and the potential fractures in the cryptographic community compared to the regulatory rigor, as indicated in recent analyzes.”
Additional recommendations concerning childcare rules for Bitcoin service providers are still anticipated as the US regulatory landscape is evolving.
Bitbo dashboard → / Original article
