What to Know About the Three Crypto Regulation Bills in Congress

The U.S. Congress is currently considering three bills that aim to establish a federal regulatory framework for the cryptocurrency industry. The first bill, the Digital Commodity Exchange Act, would create a new regulatory regime for digital commodity exchanges, providing legal clarity and consumer protections. The second bill, the Responsible Financial Innovation Act, seeks to clarify the roles of the Commodity Futures Trading Commission and the Securities and Exchange Commission in overseeing digital assets. The third bill, the Stablecoin TRUST Act, focuses on regulating stablecoins, a type of cryptocurrency pegged to a stable asset like the U.S. dollar. One of these measures, the Digital Commodity Exchange Act, has already cleared Congress and is now awaiting enactment. These legislative efforts aim to provide much-needed regulatory guidance for the rapidly evolving cryptocurrency market, addressing issues of consumer protection, market oversight, and the roles of various government agencies.