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Lawmakers Reintroduce ‘Token Taxonomy Act’ With Upgraded Version – What’s New in it?

Token Taxonomy Act, the bill which was introduced in the year 2018 for the first time to remove crypto from US securities laws- has again reintroduced with upgraded version and better clarity on Tuesday – aiming Congress to approve and signed into law.

Original Version of the Bill

The continuous debate on crypto across United state occurs due to the country’s various ways to govern the crypto aspect. However, the earlier bill which was submitted last year demands to exempt ‘certain tokens and crypto assets from federal securities laws’ – following which, it aims at law to recognize the free flow of crypto throughout the region.

As Coingape reported ‘Token Taxonomy Act or TTA) was first introduced by Reps. Davidson and Darren Soto. However, the case is still not clear but stand at the front of many crypto enthusiasts and lawmakers.

Why Resubmitted?

On one hand US SEC (securities and exchange commission) has already given ‘staff-level guidance’ that speaks how it treats token sales…

Read Full Story : Coingape

2019-04-10 08:10:19

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