SEC Advises Strongly Against Crypto Bill

The U.S. securities regulator Wednesday urged U.S. lawmakers not to adopt a bill that aims to create a new legal framework for digital currencies, saying it would undermine existing legal precedent and put capital markets at "immeasurable risk." The U.S. House of Representatives is expected later Wednesday to take up the Republican-sponsored Financial Innovation and Technology for the 21st Century Act, which would in part determine which agencies have jurisdiction over which digital assets. The bill's supporters in Congress say it will provide regulatory clarity, helping promote the industry's growth....