A pro-bitcoin lawmaker is furious that the United States is taking a “third-world, developing-economy approach” to cryptocurrency regulations, thanks to the lax SEC and the bumbling Congress. Republican Congressman Warren Davidson warns that the legislative foot-dragging is putting the United States at a competitive disadvantage in the burgeoning crypto market. So he says the SEC … Read more
Warren Davidson, arguably crypto’s best friend in Congress, reintroduced the Token Taxonomy Act yesterday. He originally introduced the bill alongside Florida representative Darren Soto last year. It never made it to a vote before the 115th Congress, but Davidson has decided to reintroduce in a Democrat-controlled 116th. The new bill already differs slightly from the … Read more
Crypto attorney Jake Chervinsky doesn’t believe that a bill to exempt cryptocurrencies and ICOs from US securities law will be approved anytime soon. He cited the bureaucratic inefficiency of Washington as a key reason for his pessimistic outlook. “I don’t know if there’s any validity to the rumor that the Token Taxonomy Act will be reintroduced … Read more
Republican Congressman Warren Davidson, an avowed bitcoin and blockchain fan, plans to introduce federal legislation that will regulate initial coin offerings (ICO) and cryptocurrencies. The bill would create an “asset class” for tokens, which would prevent them from “being classified as securities, but would also allow the federal government to regulate initial coin offerings more … Read more