US Senate Bill Shifts Crypto Regulation from SEC to CFTC, Establishing Digital Commodities Rules

Washington is recalibrating the regulatory debate surrounding the $3.6 trillion digital assets market as a bipartisan Senate proposal seeks to reposition oversight from the Securities and Exchange Commission to the Commodity Futures Trading Commission. The plan would empower the CFTC to define and regulate digital commodities, establish a registration framework for crypto exchanges, enforce enhanced disclosure standards, and introduce transaction-related fees. Proponents argue the move would create clearer rules for market participants and bolster consumer protection while reducing regulatory overlap in the cryptocurrency space.

Senate Agriculture Committee Chair John Boozman said: “The CFTC is the right agency to regulate digital commodity spot markets. Establishing clear rules for the emerging crypto market while protecting consumers is crucial.”