BILL WOULD REGULATE CRYPTOCURRENCIES

A bipartisan group of senators on Wednesday proposed a bill to regulate cryptocurrencies, the latest attempt by Congress to formulate ideas on how to oversee a multibillion- dollar industry that has been racked by collapsing prices and lenders halting operations. The regulations would authorize the Commodities Futures Trading Commission to be the default regulator for cryptocurrencies. The bill would impose user fees, which would fund more robust supervision.