Lawmakers are making a fresh attempt to give cryptocurrencies a clearer legal standing in the U.S.
The act would amend the Securities Act of 1933 and the Securities Exchange Act of 1940, granting regulators such as the U.S. Securities and Exchange Commission clarity on how they may enforce securities laws surrounding cryptocurrencies.explaining how it might verify whether token sales are securities offerings, it remains unclear how cryptocurrencies that are not being used for fundraising might be classified.
There are also provisions which strengthen consumer protection and preempt any state laws which would otherwise overlap with the act.
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Source: Forbes - 🏆 394. / 53 Read more »