A bipartisan duo of US House representatives has introduced two cryptocurrency draft bills aiming to protect both investor rights and the country’s leading role in technology innovations. The proposals submitted by Florida Democrat Darren Soto and North Carolina Republican Ted Budd will assign special virtual coin tasks to the Commodity Futures Trading Commission (CFTC), the lawmakers said in a statement on Thursday.

The first bill, Virtual Currency Consumer Protection Act of 2018, directs the CFTC to conduct an analysis of crypto price manipulations and recommend changes to current regulatory practices. Soto and Budd based their proposal on a New York Attorney General crypto report that highlights several problems, including the inability of exchanges to protect investors from abusive practices such as trading …

This article appeared first on Cryptovest

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