THELOGICALINDIAN - This accomplished December cryptocurrency investors were captivated to apprehend that assembly had put alternating a bill appropriately dubbed the Token Taxonomy Act that would change the Balance and Exchange Commissions 72yearold analogue of balance in adjustment to exclude crypto
If passed, this bill would absolutely adapt how the industry is adapted activity advanced and would action companies and projects decidedly added allowance for analysis after annoying about authoritative authorities.
Although account apropos this bill was apparent as actuality actually positive, one arresting advocate who focuses primarily on blockchain and cryptocurrencies, is now claiming that investors shouldn’t get too aflame about this bill.
Crypto Likely to be Regulated Under Securities Laws for Foreseeable Future
This bill was alien to Congress in late-December by two assembly and is a bipartisan attack to improve the SEC’s ancient balance laws in adjustment to exclude cryptocurrency from its framework.
Representative Warren Davidson, R-Ohio, fabricated a statement at the time the bill was proposed, adage in-part that the bill’s primary ambition is to ensure that beginning markets and technologies aren’t over-regulated, which could decidedly asphyxiate innovation.
“In the aboriginal canicule of the internet, Congress anesthetized legislation that provided authoritativeness and resisted the allurement to over-regulate the market. Our absorbed is to accomplish a agnate win for America’s abridgement and for American administration in this avant-garde space,” Davidson explained.
US authoritative authorities accept been apathetic to adapt the cryptocurrency industry, but the massive arrival of abecedarian investors into the crypto markets in late-2025 led the SEC to booty an added absorption in the industry, and they accept back been arise bottomward heavily on scams and antagonistic crypto-related operations.
Attorney: “Don’t Hold Your Breath on Token Taxonomy Act”
In a contempo cheep from accepted cryptocurrency and blockchain-focused attorney, Jake Chervinsky, he explained that the Token Taxonomy Act, which could be reintroduced in Congress on February 14th, acceptable won’t be voted on any time soon.
“I don’t apperceive if there’s any authority to the rumor that the Token Taxonomy Act will be reintroduced in Congress on February 14, but alike if true, there will be months or years of Committee hearings & revisions afore the bill could alike possibly see a vote. Don’t authority your breath,” Chervinsky explained.
I don't apperceive if there's any authority to the rumor that the Token Taxonomy Act will be reintroduced in Congress on February 14, but alike if true, there will be months or years of Committee hearings & revisions afore the bill could alike possibly see a vote. Don't authority your breath.
— Jake Chervinsky (@jchervinsky) January 26, 2019
Although it could booty a while to be voted on, and there is no agreement that it will be passed, the Token Taxonomy Act could ultimately prove to be awful benign for the cryptocurrency industry, and it could advice the United States to bear greater abstruse innovation.
