The tug of war to regularize the cryptocurrency market just got hotter in the United States. On Wednesday, Deborah Ann Stabenow, the Chairwoman of the Senate Agricultural Committee and a Democrat from Michigan, and Senator John Nichols Boozman, a Republican from Arkansas, proposed a bill to regulate cryptocurrencies in the U.S. Under the proposed bill, the senators seek to make the Commodities Futures Trading Commission (CFTC) the sole regulator of digital commodities, including ether and bitcoin, in a highly volatile industry. If passed, the bill would increase the operational purview of the CFTC, which has the expertise in regulating derivatives (swaps and futures).
