Two congressmen are pushing a bill that would exclude cryptos from securities law
Partner offers
The Block may may earn a commission if you use our partner offers, at no extra cost to you.
Two U.S. congressmen are pushing a bill that could give cryptos the regulatory clarity the market has been clamoring for, according to an exclusive report by CNBC. The so-called Token Taxonomy Act would exclude cryptos from securities laws, the report said. It is being proposed by Warren Davidson, an Ohio Republican, and Darren Soto, a Democrat from Florida. “In the early days of the internet, Congress passed legislation that provided certainty and resisted the temptation to over-regulate the market. Our intent is to achieve a similar win for America’s economy and for American leadership in this innovative space,” Davidson said in a statement, referring to the bill.
AUTHOR
Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].
See More
