Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Paha87 on December 21, 2019, 05:11:50 AM
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U.S. Congressman Paul Gosar proposed a bill that would divide the functions of regulating digital currencies between several agencies. This is reported by Forbes.
In particular, the document proposes to divide crypto assets into three categories: directly crypto-currencies, crypto-exchange commodities and crypto-currency securities.
Regulation of assets falling into the first category, want to entrust the Network to combat financial crimes (FinCEN), the second — the Commission on futures trading (CFTC), and the third — the securities and exchange Commission (SEC).
Cryptocurrency exchange commodities are interchangeable economic goods or services based on the blockchain. According to the document, all debt, equity and derivative blockchain instruments are considered to be cryptocurrency securities. Cryptocurrencies are proposed to be called instruments tied to the dollar or "synthesized derivatives on the blockchain".
At the same time, the authors of the bill called on the us Treasury Secretary through FinCEN to establish rules for tracking transactions with cryptocurrency similar to those existing for financial institutions.
Recall that in October, the SEC, CFTC and FinCEN issued a joint statement to participants in the crypto industry.
The original article here -https://forklog.com/v-kongresse-ssha-predstavili-zakonoproekt-o-kriptovalyutah-2020/
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I think that gradually crypto is receiving great attention despite many issies on regulations. This bill from the US Congress may be adopted by the house but it may not receive good commendations from the cryptp community in my opinion.
I can only emphasized that we all have to wait and see how this bill play out in the days ahead. Thanks
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I think that gradually crypto is receiving great attention despite many issies on regulations. This bill from the US Congress may be adopted by the house but it may not receive good commendations from the cryptp community in my opinion.
I can only emphasized that we all have to wait and see how this bill play out in the days ahead. Thanks
Yes, we can only wait. Personally, I am for the adoption of such laws, it will make the cryptocurrency more publicly available for adoption by the population. We'll see.
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The USA is the country with the most strict crypto regulations already. Why do they need even something more?
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This is just one of the first bills introduced in the US Congress. I think that in the future there will be more of them, and the indicated one will change, since it is clearly not perfect and requires serious improvements. Cryptocurrency in any case will be regulated by states, the only question is how tough or friendly to cryptocurrency it will be.