United States Moves Forward With Crypto Regulation

Photo: Crypto Regulations

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Last Thursday, in the US House of Representatives, there was a discussion by the House Agriculture Committee as the United States on two new bills about cryptocurrencies.

The first bill focuses on determining which cryptocurrencies are considered securities; the other is intended to build regulatory infrastructure around several cryptocurrency exchanges.

The Securities Clarification Act has been revised to distinguish between investment contracts and multiple financial instruments in securities law. For institutional investors and the broader crypto ecosystem, a fresh breath of life into the regulatory environment could be bullish.

The Digital Commodity Exchange Act was also brought forward to the House Agriculture Committee by Representative Mike Conaway and The Blockchain Caucus. This will bring the CFTC, which response to the Agriculture Committee, under the authority of crypto exchanges.

As registration will significantly simplify payments and streamline licensing for regional exchanges, this will be a groundbreaking event for cryptocurrency traders. Late, inter-state charges were notoriously problematic. Crypto payment services require separate licenses that slow down acceptance and limit opportunities to operate in different states.

A crucial moment for any U.S person possessing crypto assets will be for cryptocurrency to be commonly regarded as a product.

If the new bills were to pass, retail crypto investments would come into several of the same regulatory categories. There is still room in the agreement to allow more complicated and unique use cases.

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