There's a new plan to regulate cryptocurrencies. Here's what you need to know

There's a new plan to regulate cryptocurrencies. Critics say it's a step backwards and is far too crypto-friendly. The bill defines most cryptocurrency as commodities, which would be overseen by the Commodity Futures Trading Commission. It also has provisions about cybersecurity, the possible creation of a self-regulatory organization, and some disclosure requirements. It's still a long way from becoming a law, but critics say it may ultimately be broken up into parts to go through the relevant committees. There are a number of tech experts who say cryptocurrency is a purely speculative asset and one that serves no real purpose, one that is purely speculative and one with no real use, and one of them that is not real purpose. There are concerns that the bill may not be ready to become law Source