TechFlow reports that on September 13, according to Fox News journalist Eleanor Terrett, Tennessee Republican Representative John Rose introduced the "BRIDGE Digital Assets Act," aiming to establish a joint advisory committee on digital assets between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The full name of the bill is the "Bringing Regulatory Integration to Digital asset Governance and Enforcement Act," designed to bring an integrated governance and enforcement framework to digital asset regulation.
The committee will consist of 20 participants from the private sector, representing diverse stakeholder groups within the cryptocurrency industry. Its primary purpose is to provide recommendations to the SEC and CFTC on rules, regulations, and policies related to digital assets, promoting coordination and collaboration between the two regulatory agencies. Rose stated that the current harsh approach of "regulation by enforcement" is ineffective and has instead driven this critical innovation overseas.
