The US Congress began to consider a bill that proposes to share the authority to control cryptocurrencies between the US commodity trade commission (CFTC) and the Securities and Exchange Commission (SEC).

The bill was introduced by the Chairman of the Committee on Financial Services of the House of Representatives French Hill. According to the project, the commercial trade futures trade will receive exceptional jurisdiction over the turnover and offer digital commodity assets on cryptocurrency exchanges, as well as the activities of brokers and dealers. The securities and exchanges commissions are proposed to regulate investment and contract crypto acts used to attract capital, as well as the powers to combat fraud and manipulations in the digital asset market.

The bill defines digital goods as assets related to blockchain, the value of which depends on utility and is not related to investments or contracts. In terms of regulation of the turnover of stablecoins, the powers of CFTC apply to trade and storage operations, and the SEC should supervise anti -minute measures.

The bill introduces a test for decentralization for the classification of digital assets. If the network is quite decentralized, then cryptocurrencies, such as bitcoin or ether, are considered goods. On the contrary, assets of non -decentralized networks, such as XRP, can be classified as securities. It is noted that digital platforms working with both types of crypto acts are required to register both in CFTC and SEC. The bill also requires crypto officers, brokers and dealers of compliance with the rules for combating criminal proceeds and protecting customer assets, including storage of own funds and a ban on the use of stake tokens without the consent of the owner.

Earlier, the Chairman of the U.S. Securities and Exchange Commission, Paul Atkins, announced a new approach of the department in the Senate to regulate the American cryptocurrency and the willingness of the departure from the policy of “threats and forces”.