US Legislators Reintroduce Token Taxonomy Act to Exclude Crypto From Securities Laws

American congressmen have reintroduced the Token Taxonomy Act that would exclude crypto from being classified as a security.

Representatives in the United States House of Representatives have reintroduced the Token Taxonomy Act, according to a press release shared with Cointelegraph on April 9. The bill would exclude cryptocurrency from being classified as a security.

The bill was initially proposed last December by Reps. Warren Davidson (R) and Darren Soto (D), and seeks to exclude digital currencies from being defined as securities by amending the Securities Act of 1933 and the Securities Act of 1934.

The press release notes that the recent iteration of the bill will differ from that which was introduced last year. Notably, it clarifies the jurisdictions of the Commodity Futures Trading Commission (CFTC) and the Federal Trade Commission (FTC).  It also states that a preemption provisions was included…

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2019-04-10 00:30:00

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Written by Cointelegraph

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