According to Fox News correspondent Eleanor Terrett, Tennessee Republican Rep. John Rose, a member of the U.S. House of Representatives Republican Committee on Financial Services, is introducing a new bill called the "BRIDGE Digital Assets Act," which would create a joint advisory committee on digital assets between the Securities Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). It is reported that the purpose of the committee is for the industry to advise the two agencies on rules, regulations, and policies related to digital assets. The committee will consist of 20 private sector participants who represent diverse interests in the Crypto space. "The current heavy-handed, enforceable approach to regulation is not working and is instead encouraging investment in this critical innovation overseas," said Mr. Rose. The JAC will provide a framework for government and private sector partners to work together towards successful regulatory environments for digital assets and private sector players.