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US House approves bill establishing digital asset regulation working group Business
The U.S. House of Representatives has passed a bill mandating that the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jointly establish a digital asset regulation working group to assess the state of current regulatory frameworks and make suggestions for future improvement.
The working group is to be composed of both the SEC and the CFTC, as well as relevant business representatives, academics and investor protection organizations. According to the bill, dubbed the Eliminate Barriers to Innovation Act of 2021, requires the working group to jointly produce a report, within a year of the bill’s enactment, on the current state of digital asset regulation in the United States. Specifically, the report is to focus on the impact that lack of regulatory clarity is having on the industry and how current regulatory regimes are impacting the country’s
Dubai proposes a framework to regulate security tokens and curb money laundering, as part of a bid to promote the growth of security tokens that could transform the city’s financial services industry.