Appearing on Bloomberg TV this week, Congressman Frank Lucas explained how the U.S. House Financial Committee and the U.S. Agriculture Committee are considering legislation to clarify what federal regulators will oversee digital assets, or cryptocurrencies.
At issue is what jurisdictions the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) will have.
Lucas says the House is drawing close to an agreement, but will still need the U.S. Senate and the President to come on board for the policy change. He says the Wild West environment of cryptocurrency can’t continue.
You can watch Lucas’ appearance on Bloomberg TV below.
.@FinancialCmte & @HouseAgGOP are considering legislation to clarify the jurisdictions of the SEC & CFTC over digital assets.
From my perspective on both committees, it's clear we can't continue in the Wild West environment we're in right now.
I discussed with @crypto below👇 pic.twitter.com/nFQ74ildyB
— Frank Lucas (@RepFrankLucas) July 26, 2023
