The Eliminate Barriers to Innovation Act is, at this point, one of the first bills explicitly addressing digital assets to have left the committee stage and passed one of Congress' two chambers. Its central focus is the relationship between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
If passed, the law would mandate the creation of a joint working group of non-government employees who would, in turn, advise both commissions and ultimately come up with a report and recommendations as to how the two should address digital assets markets. In its current form, the bill cautions that that working group's findings "may only relate to the laws, regulations, and related matters that are under the primary jurisdiction of the Securities and Exchange Commission or the Commodity Futures Trading Commission."
The SEC and CFTC have struggled to parse which cryptocurrencies to define as securities and which to define as commodities for years. The issue is at the heart of high-profile cases like the SEC's prosecution of Ripple over the issuance of XRP, which the firm claims to be a commodity and therefore outside of the SEC's purview.
A member of Representative McHenry's staff did not respond to The Block's request for comment by press time.
LMAX Group robust technology and familiar institutional grade trading infrastructure (currently processing over 2 billion orders per day in the global FX market) is the solid backbone of LMAX Digital, delivering access to deep institutional liquidity, transparent price discovery, a regulated trading environment and a full custodian trading solution.
The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana.
We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come.