New Digital Asset Bill Proposed To Establish Joint Advisory Committee

According to BlockBeats, on September 13, Fox News journalist Eleanor Terrett reported that Tennessee Republican Congressman John Rose, a member of the House Financial Services Republican Committee, is proposing a new bill named the 'BRIDGE Digital Asset Act.' This legislation aims to establish a joint advisory committee between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). The purpose of this committee is to provide these agencies with recommendations on rules, regulations, and policies related to digital assets. The committee will consist of 20 private sector participants representing various interests within the crypto industry. John Rose stated, 'The current stringent, enforcement-driven regulatory approach is not effective and instead encourages investment in this critical innovation overseas.' He added that the Digital Asset Joint Advisory Committee will offer a collaborative framework for the government and private sector to work together, aiming for a successful regulatory environment for digital assets and private sector participants.