According to a new bill proposed by US Senators, CFTC will oversee Crypto instead of the SEC. Is that a win?

Just now documents have been shown of a bill by US Senators that would also influence crypto. According to the bill the regulator for commodities, CFTC, will be overseeing Bitcoin and other crypto assets instead of the current “kind of” assigned oversee-er, SEC. Is that now really better?

While we may all have enough of the constant bullshit the SEC has been talking into crypto and the fact that they don’t know what to do themselves as they showed in court with XRP. Also their constant denial of Bitcoin Spot ETFs that is senseless. It may be better to have someone else but not them regulating Crypto.

The CFTC is basically assigned to regulate commodities just as the SEC is assigned to overlook securities. Happily for Crypto they have im the past been more crypto-friendly than the SEC with their statements. Offering a innovative regulation that still protects crypto from being over-regulated. Now obviously they are internally just as or a bit less corrupt than the SEC but maybe for Crypto they would be the better out of this two bad ones.