Among other objectives, the bill seeks to carve some cryptocurrencies out of the Securities and Exchange Commission’s jurisdiction. It also would create new concepts in the nearly 90-year-old securities laws that would allow issuers of some digital tokens to meet lighter disclosure requirements than public companies face.
SEC Chair Gary Gensler has said most cryptocurrencies meet the definition of a security and should register with the agency.
Source: Senators to Propose Industry-Friendly Cryptocurrency Bill – WSJ
