{"id":9581,"date":"2019-12-23T04:27:45","date_gmt":"2019-12-23T04:27:45","guid":{"rendered":"http:\/\/emilynews.com\/blog\/?p=9581"},"modified":"2019-12-23T04:27:47","modified_gmt":"2019-12-23T04:27:47","slug":"news-commentary-950-us-legislation-to-clarify-crypto-assets","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=9581","title":{"rendered":"News Commentary #950 – US Legislation to Clarify Crypto Assets"},"content":{"rendered":"\n

Draft Bill Introduced.<\/strong><\/p>\n\n\n\n

We recently encountrered a very informative and well-written article describing legislation that has been introduced in the US House of Representatives that would classify crypto assets into three groups: crypto commodities, crypto currencies, and crypto securities.\u00a0 The articlegoes on to describe which US agency would be in charge of each type of asset.\u00a0 Of course, all this is by no means law yet.\u00a0 For those of you not living in the US, it can be a slow process getting legislation approved.\u00a0 Not only does it have to be approved by the \u201cHouse,\u201d it also must be approved by the \u201cSenate,\u201d and ultimately by the President of the country<\/strong>.\u00a0 At any point in the process, the draft legislation could die.\u00a0 So, we\u2019ll have to wait and see what happens.\u00a0 However, in any case, it is good to see that the US government is thinking about cryptos.\u00a0 Let\u2019s hope that, if anything comes of this, it won\u2019t be overly restrictive on folks who presently use and\/or invest with cryptos.<\/p>\n\n\n\n

Here\u2019s the article\u2026  <\/p>\n\n\n\n

New Draft Bill Aiming To Clarify Crypto Assets Introduced in US Congress<\/strong><\/p>

Paul Gosar, an Arizona Congressman, has introduced a draft bill, aimed at finally bringing regulatory clarity to the cryptocurrency industry in the United States, according to a Forbes article published on Dec. 19. The Crypto-Currency Act of 2020 sets out which Federal agencies should regulate each type of crypto assets.<\/p>

Three flavors of crypto asset<\/em><\/p>

One of the key things that the draft bill does is define three types of crypto asset; crypto commodities, crypto currencies, and crypto securities, per a discussion draft of the proposed bill.<\/p>

Crypto-commodities are defined as economic goods or services, stored on a blockchain, with fungibility and which the market treats with no regard as to who produced it.<\/p>

Crypto-currencies are defined as representations of U.S. currency or synthetic derivatives resting on a blockchain. This covers reserve-backed stablecoins, and currencies determined by decentralized oracles or smart contracts.<\/p>

Crypto-securities cover all debt, equity and derivative instruments on a blockchain, other than those which are operated and registered as complaint money services businesses.<\/p>

Not \u2018One Federal Crypto Regulator\u2019 to rule them all<\/em><\/p>

Each type of crypto-asset would fall under the jurisdiction of a different regulatory body, to act as the \u2018Federal Crypto Regulator\u2019 or \u2018Federal Digital Asset Regulator\u2019 for that type.<\/p>

As might be expected, the Commodity Futures Trading Commission (CFTC) would be the agency in charge of crypto-commodities, and the Securities and Exchange Commission (SEC) would cover crypto-securities.<\/p>

The Financial Crimes Enforcement Network (FinCEN) would then be left to regulate crypto-currencies.<\/p>

Uncertainty currently stifling innovation<\/em><\/p>

While it remains to be seen how far the bill progresses, it is likely to receive support from the cryptocurrency industry which has been calling for regulatory clarity for some time.<\/p>

As Cointelegraph reported, the EU\u2019s Fifth Anti Money Laundering Directive (5AMLD) is set to come into force on Jan. 10, 2020, bringing regulatory clarity to the industry on the other side of the Atlantic.<\/p><\/blockquote>\n\n\n

*********************************<\/p>\n

If one of the paying programs on our Monitor appeals to you, please support EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n

Telegram Chat for your Crypto and Hyip reports: @HyipChatEN<\/a><\/strong><\/p>\n

*********************************<\/p>\n

Be the first to get most important HYIP news everyday!
Simply Follow EN Facebook<\/strong><\/a>, EN Telegram<\/strong><\/a>, EN Twitter<\/strong><\/a>
or Subscribe to EN Feedburner<\/a><\/strong> and submit your email address!<\/p>\n

If you like this article, please share it by using the social media buttons below.<\/p>","protected":false},"excerpt":{"rendered":"

Draft Bill Introduced. We recently encountrered a very informative and well-written article describing legislation that has been introduced in the US House of Representatives that would classify crypto assets into three groups: crypto commodities, crypto … News Commentary #950 – US Legislation to Clarify Crypto Assets<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":9422,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[3611,3610],"class_list":["post-9581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-information","tag-crypto-news","tag-cryptocurrency-news","exalt-entry"],"yoast_head":"\nNews Commentary #950 - US Legislation to Clarify Crypto Assets - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=9581\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"News Commentary #950 - US Legislation to Clarify Crypto Assets - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Draft Bill Introduced. We recently encountrered a very informative and well-written article describing legislation that has been introduced in the US House of Representatives that would classify crypto assets into three groups: crypto commodities, crypto … News Commentary #950 – US Legislation to Clarify Crypto AssetsRead more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/emilynews.com\/blog\/?p=9581\" \/>\n<meta property=\"og:site_name\" content=\"EmilyNews\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-23T04:27:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-12-23T04:27:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"200\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Emilynews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emilynews\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=9581\",\"url\":\"https:\/\/emilynews.com\/blog\/?p=9581\",\"name\":\"News Commentary #950 - US Legislation to Clarify Crypto Assets - EmilyNews\",\"isPartOf\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=9581#primaryimage\"},\"image\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=9581#primaryimage\"},\"thumbnailUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg\",\"datePublished\":\"2019-12-23T04:27:45+00:00\",\"dateModified\":\"2019-12-23T04:27:47+00:00\",\"author\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\"},\"breadcrumb\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=9581#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/emilynews.com\/blog\/?p=9581\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=9581#primaryimage\",\"url\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg\",\"contentUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg\",\"width\":200,\"height\":200},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=9581#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/emilynews.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"News Commentary #950 – US Legislation to Clarify Crypto Assets\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/emilynews.com\/blog\/#website\",\"url\":\"https:\/\/emilynews.com\/blog\/\",\"name\":\"EmilyNews\",\"description\":\"EmilyNews Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/emilynews.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\",\"name\":\"Emilynews\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"caption\":\"Emilynews\"},\"url\":\"https:\/\/emilynews.com\/blog\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"News Commentary #950 - US Legislation to Clarify Crypto Assets - EmilyNews","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/emilynews.com\/blog\/?p=9581","og_locale":"en_US","og_type":"article","og_title":"News Commentary #950 - US Legislation to Clarify Crypto Assets - EmilyNews","og_description":"Draft Bill Introduced. We recently encountrered a very informative and well-written article describing legislation that has been introduced in the US House of Representatives that would classify crypto assets into three groups: crypto commodities, crypto … News Commentary #950 – US Legislation to Clarify Crypto AssetsRead more","og_url":"https:\/\/emilynews.com\/blog\/?p=9581","og_site_name":"EmilyNews","article_published_time":"2019-12-23T04:27:45+00:00","article_modified_time":"2019-12-23T04:27:47+00:00","og_image":[{"width":200,"height":200,"url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg","type":"image\/jpeg"}],"author":"Emilynews","twitter_card":"summary_large_image","twitter_image":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg","twitter_misc":{"Written by":"Emilynews","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/emilynews.com\/blog\/?p=9581","url":"https:\/\/emilynews.com\/blog\/?p=9581","name":"News Commentary #950 - US Legislation to Clarify Crypto Assets - EmilyNews","isPartOf":{"@id":"https:\/\/emilynews.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/emilynews.com\/blog\/?p=9581#primaryimage"},"image":{"@id":"https:\/\/emilynews.com\/blog\/?p=9581#primaryimage"},"thumbnailUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg","datePublished":"2019-12-23T04:27:45+00:00","dateModified":"2019-12-23T04:27:47+00:00","author":{"@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33"},"breadcrumb":{"@id":"https:\/\/emilynews.com\/blog\/?p=9581#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/emilynews.com\/blog\/?p=9581"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/?p=9581#primaryimage","url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg","contentUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg","width":200,"height":200},{"@type":"BreadcrumbList","@id":"https:\/\/emilynews.com\/blog\/?p=9581#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/emilynews.com\/blog"},{"@type":"ListItem","position":2,"name":"News Commentary #950 – US Legislation to Clarify Crypto Assets"}]},{"@type":"WebSite","@id":"https:\/\/emilynews.com\/blog\/#website","url":"https:\/\/emilynews.com\/blog\/","name":"EmilyNews","description":"EmilyNews Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/emilynews.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33","name":"Emilynews","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","caption":"Emilynews"},"url":"https:\/\/emilynews.com\/blog\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/9581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9581"}],"version-history":[{"count":0,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/9581\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/media\/9422"}],"wp:attachment":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}