Policy > Crypto and Digital Asset Market Legislation

Crypto and Digital Asset Market Legislation

It’s time for the federal government to create clear guidelines as to how cryptocurrencies/digital asset markets will be treated and regulated so that investment can proceed with all relevant information. It’s time to end the era of Ponzi scheme inequality. It’s time to bail out the people, not the banks. It’s time to build, but the structural problems we face can’t be solved through market-based solutions alone. We need to bring Bitcoin and crypto innovation back to New York. 

 

  • Promote legislation that provides clarity in the cryptocurrency/digital asset market space by:

  • Defining what a token is, and when it is a security (e.g., recognizing “utility tokens”)

  • Define which federal agencies have regulatory power over the crypto/digital assets space

  • Provide for consumer protections in the space

  • Clarify the tax implications of owning, selling, and trading digital assets

  • Promote the nationwide adoption of recognition of protections afforded by a series LLC

  • Preempt state regulations, when possible, to create one national framework

  • Work with the sponsors of the Token Taxonomy Act and Wyoming legislators to promote the above, largely modeled after their work.

Consensus Distributed Interview
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