8/19/2021, 7:52:16 PMPositive. +1
According to a press release from Davidson’s office on Monday, the Token Taxonomy Act, first introduced in 2018, seeks to exempt certain cryptocurrencies and digital assets from federal securities laws.
Specifically, the bill aims to amend the Securities Act of 1933 and the Securities Exchange Act of 1940 for that purpose. If successful, regulators such as the Securities and Exchange Commission would be afforded greater clarity on how best to enforce securities laws as it relates to cryptocurrency tokens.
Representatives Ted Budd (R-N.C.), Darren Soto (D-Fla.), Scott Perry (R-Penn.) and Josh Gottheimer (D-N.J.) co-sponsored the bill, which is now making its third pass through the House of Representatives after last hitting a wall in 2019.
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