In the US Congress will consider the possibility of exclusion of digital currencies from the legislation on securities

Ohio Congressman Warren Davidson reintroduced to the US Congress a bill that contained amendments to the Securities Act (1933) and the Securities Trading Act (1934), to exclude digital tokens from the definition of securities.

2019 Version of the Token T … by on Scribd

The Token Taxonomy Act states that digital currencies in pension accounts should be taxed on the principle of gold bullion. The document also proposes not to impose taxes on the exchange of one cryptocurrency to another and withdrawal to Fiat up to $ 600.

We note that the draft law was first introduced in December 2018, but it never came to a vote. The text of the document largely repeats last year’s proposal, but includes data on the decisions of the legislative bodies of individual states: Colorado and Wyoming .

When Congress will begin to consider the unknown, but it is worth adding that Warren Davidson is not one warrior in the field. His initiative is actively supported by the Congressman from the state of Florida Darren Soto.

The latter, in particular, presented a parallel bill, in accordance with which the Federal Trade Commission (FTC) will receive $ 25 million to fight against unscrupulous players in the digital asset market, The Block reported .

Earlier in the media it was reported that the new powers may help the FTC to oust the Commission on urgent exchange trading (CFTC) from the industry, but a spokesman for Soto refuted these rumors.

Earlier, the US Congress presented a bill on the protection of the rights of consumers of virtual currencies, which aims to counter price manipulation on cryptocurrency exchanges.

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