New Republican Bill on Crypto Regulation (Patreon)

First, this is a v1, not a final product. Still a LOT of work to do to get to a viable piece of legislation, but this is a good starting point for a sensible market structure bill, and it delineates where authority might lie between the SEC and CFTC.

Here is a quick summary and needless to say it is a kick to Gensler

• Republican House committee chairs propose a draft bill for regulating digital assets, providing a pathway for securities to be regulated as commodities.
• The bill serves as a starting point for discussions between Republicans, Democrats, regulators, and the private sector.
• The proposed legislation outlines that securities would remain under the jurisdiction of the SEC, while commodities would fall under the oversight of the CFTC.
• Decentralization of blockchain networks is crucial in determining whether an asset is classified as a commodity. This is WHY I AM OBSESSED WITH NAKAMOTO COEFFICIENTS AND CRYPTO COMPENDIUM SCORES. 
• The draft bill includes provisions for token issuers to certify decentralization to the SEC, with a decision period and potential objections.