According to ChainCatcher, Republican Congressman John Rose of Tennessee, a member of the House Financial Services Committee, is introducing a new bill called the BRIDGE Digital Asset Act. The bill proposes establishing a joint advisory board for digital assets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

The purpose of this committee is to provide advice to both agencies on rules, regulations, and policies related to digital assets. The committee will be comprised of 20 private sector participants, representing various interests within the crypto space.

John Rose stated, "The current heavy-handed, enforcement-first approach to regulation isn't working and is instead encouraging investment in this key innovation overseas. The Digital Asset Joint Advisory Board will provide a framework for government and the private sector to partner together on a regulatory environment for digital assets and private sector participants that is successful."