ChainCatcher reported that according to Fox News reporter Eleanor Terrett, John Rose, a Republican congressman from Tennessee and a member of the Republican Committee on Financial Services of the U.S. House of Representatives, is proposing a new bill called the BRIDGE Digital Assets Act, which would establish a joint advisory committee on digital assets between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC).
The purpose of the committee is reportedly to be for the industry to provide advice to the two agencies on rules, regulations and policies related to digital assets. The committee will be composed of 20 private sector participants who represent different interests in the Crypto field.
John Rose said: “The current heavy-handed, enforcement approach to regulation is not working and is encouraging investment in this critical innovation overseas. The Digital Assets Joint Advisory Committee will provide a framework for governments and the private sector to work together to shape the regulatory environment for digital assets and private sector participants towards success.”
