Guest Posted December 20, 2019 Share Posted December 20, 2019 (edited) Quote The bill is called the ‘Crypto-Currency Act of 2020,’ and the stated purpose is to clarify which Federal agencies regulate digital assets, to require those agencies to notify the public of any Federal licenses, certifications, or registrations required to create or trade in such assets, and for other purposes. Quote An initial review of the bill provides for the following: (1) Assigns a definition of ‘Federal Digital Asset Regulator’ or ‘Federal Crypto Regulator’ to three agencies – the Commodity Futures Trading Commission (CTFC), the Securities and Exchange Commission (SEC), and the Financial Crimes Enforcement Network (FinCEN). (2) Splits digital assets into three different categories: crypto-currencies, crypto-commodities, and crypto-securities. (3) The Federal Crypto Regulator is assigned one of the categories and is defined as the sole Government agency with the authority to regulate: (a) CFTC – crypto-commodities; (b) SEC – crypto-securities; (c) FinCEN – crypto-currencies. https://www.forbes.com/sites/jasonbrett/2019/12/19/congress-considers-federal-crypto-regulators-in-new-cryptocurrency-act-of-2020/amp/?__twitter_impression=true Looks like XRP is not a security and not a commodity. I guess it's in the authority of the FinCEN to regulate XRP since Ripple was fined by FinCEN in 2015 already. XRP = crypto-currency? Edited December 20, 2019 by Guest Link to comment Share on other sites More sharing options...
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