SCOOP: @FoxBusiness has learned that some Republican members of the @FinancialCmte led by @RepJohnRose sent a letter today to @SECGov Chair @GaryGensler and @FINRA President/CEO Robert Cook expressing concern over their continued silence regarding @PrometheumInc’s May launch of custody services for Ethereum as a so-called “crypto asset security.”
The letter states that the agencies’ silence on the matter signals they are “complicit” in creating market confusion and uncertainty given that the SEC has already acknowledged that $ETH is not a security and the term “crypto asset security” does not apply to the token itself, but rather the manner in which it is sold.
“Players in the digital assets space deserve certainty from their regulators,” Rose writes. “Yet under Chair Gensler they’ve only received chaos and confusion. I hope while Chair Gensler is cleaning out his office, he can heed our concerns seriously and maybe deliver some real guidance on his way out the door.”
Co-signers of are @RepFrenchHill, @USRepMikeFlood, @RepDustyJohnson and @RepTimmons.
Last year, @CGasparino wrote in the @nypost that the SEC’s regulations on #crypto are an “uneven mess,” citing Prometheum as a company that “appeared to have slipped through some very large SEC cracks to become a thing.”
Read the full letter here 
NEW: I've introduced the BRIDGE Digital Assets Act to establish a Joint Advisory Committee on digital assets between the @SECgov and @CFTC.
The United States must allow digital assets to thrive because the heavy-handed, regulation-by-enforcement approach isn't working. SCOOP: Republican Tennessee Congressman @RepJohnRose, who sits on the @FinancialCmte, is introducing a new bill called the “BRIDGE Digital Assets Act” that would establish a Joint Advisory Committee on digital assets between the @SECGov and the @CFTC.
The purpose of the committee, I’m told, would be for industry to provide both agencies with advice on their respective rules, regulations, and policies relating to digital assets. The committee would be made up of 20 private sector participants who represent different interests in the #crypto space.
"The current heavy-handed, regulation-by-enforcement approach isn't working and is instead encouraging investment in this key innovation overseas,” said Rose. “The Joint Advisory Committee on Digital Assets will provide a framework for the government and private sector partners to cooperate on a path toward success for the regulatory landscape of digital assets and private sector participants."
Full text of the bill here:
johnrose.house.gov/sites/evo-subs…
Require digital asset developers to provide accurate and critical disclosures to consumers
Determine specific responsibilities of federal regulators
Specify which digital asset transactions are under the jurisdiction of the @SECGov and of the @CFTC https://t.co/IZ91N1A4pj
:agriculture.house.gov/news/documents… 
financialservices.house.gov/news/documents… 
Read more
financialservices.house.gov/news/documents… 
Holds China accountable by targeting the CCP's military-industrial complex
Strengthens oversight of foreign purchases of U.S. farmland
& Prevents a CCP-style CBDC https://t.co/rBL6kQwTS1
Read more
financialservices.house.gov/news/documents… More than 14 months of consultation with Democrats
Legislative text available since June
Appropriate noticing requirements met
Democrats would rather whine and obstruct than properly prepare for markup. https://t.co/cig4keXQpY 
