Sen. Jon Husted (R-Ohio) announced on Mar. 27 that he has joined Sen. John Boozman’s (R-Ark.) Digital Commodity Intermediaries Act, a bill aimed at granting the Commodity Futures Trading Commission new authority to regulate digital commodities and enhance consumer protections in the growing digital asset market.
The move comes as lawmakers seek to establish clearer rules for digital assets, which supporters say will foster innovation and job creation while ensuring consumer safety. “If the United States is going to lead in digital assets, we need a framework that is clear, practical and supports innovation and job creation here at home,” Husted said. He added, “Congress is overdue in providing the regulatory certainty and consumer protections the digital asset space needs. This bill represents an important first step toward delivering that clarity.” Husted also said he looks forward to working with colleagues on broader efforts for a modern market structure that protects consumers and encourages development within the United States.
Boozman described the legislation as a crucial measure: “This is a critical step toward creating clear rules for digital asset markets. Advancing this bill brings us closer to a U.S. regulatory framework that protects consumers while allowing American innovation and businesses to thrive.” He said there remains more work ahead but expressed hope it would build momentum in the Senate.
The Digital Commodity Intermediaries Act proposes several measures including defining legal terms related to digital commodities, establishing spot market regulations under CFTC oversight, requiring customer fund segregation, setting up trading registration regimes designed for resilient markets, mandating coordination between CFTC and Securities Exchange Commission on rulemaking, offering safeguards for software developers and technology innovators, as well as providing new funding streams for regulatory implementation.
The legislation passed through the U.S. Senate Committee on Agriculture, Nutrition and Forestry by a narrow margin of 12-11 on Feb. 2.
Husted’s background includes serving as Speaker of the Ohio House of Representatives where he led tax reduction initiatives and promoted educational choice scholarships according to his official website. Before joining the U.S. Senate, he also served as Ohio secretary of state and lieutenant governor according to his official website. In addition to legislative roles focused on health care policy, education reform, small business growth, environmental issues, public works projects and aging populations according to his official website, Husted has been recognized for defending voter roll integrity before the Supreme Court according to his official website.
Husted earned both bachelor’s and master’s degrees from University of Dayton according to his official website where he was an All-American defensive back helping lead their football team to a national championship according to his official website. He resides in Columbus with his wife Tina; together they have raised three children and welcomed a granddaughter according to his official website.
