GOP Chair: Crypto Offered As Investment Contract Does Not Become Securities

Also Read: US Fed Hikes Interest Rate By 25 Bps; Bitcoin Price To Dip?

advertisement

GOP Chair Address Crypto “Securities” Issue

Patrick McHenry, the House Financial Services Committee chair stated that the entire crypto market structure legislation accepts a key issue in the market i.e. digital assets being treated as securities.

Digital assets that are not inherently securities may be offered as part of an investment contract but that does not make them securities, said Patrick McHenry.

GOP chair mentioned that their bill linked to crypto assets focuses on two vital points i.e. decentralization and functionality in order to explain how Howey Test applies to digital assets. He added this will help the authorities ahead and this is also the “crux of the FIT of 21st Century Act.”

Recommended Articles
ethereum price crypto news
Crypto Presale Projects For 2023 To Invest; Updated List
Must Read
crypto exchange affiliate programs
Best Crypto Exchange Affiliate Programs In 2023
Must Read
ethereum price crypto news
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must Read
ethereum price crypto news
Crypto Telegram Channels List 2023 [Updated]
Must Read
ethereum price crypto news
Top 10 Web3 Games To Explore In 2023; Here List
Must Read

The FIT for the 21st Century Act led by the House Financial Services Committee is projected as an historic first step in the direction of gaining legal clarity for digital assets.

Comments

Post a Comment

Popular posts from this blog

Shiba Inu Whales and Dogecoin Whales Cash Out, Is Tamadoge a Better Investment

Image
Throughout 2022, Shiba Inu and Dogecoin have experienced huge price corrections, leading whales to cash out of the popular meme coins. While investors are looking for alternative meme investments, many are looking to invest in Tamadoge - a popular play-to-earn (P2E) cryptocurrency project.  Shiba Inu and Dogecoin Correction Since the beginning of 2022, the best shitcoins have been going through a large-scale price correction. Notably, Shiba Inu (SHIB) and Dogecoin have both witnessed huge price dips and have not performed as well as some of the other top cryptocurrencies. After starting August 2022 at $0.000012, Shiba Inu increased by 44% to $0.00001739. However, the cryptocurrency corrected back to the $0.000012 mark by the end of the month. On the other hand, Dogecoin also received a 24% price increase in the first 2 weeks of August before losing 27% of its valuation.  Shiba Inu and Dogecoin are trading 85% and 91% below their all-time high (ATH), respectivel...
Read more

Asia's weekly TOP10 crypto news (May 29 to June 4)

Image
Author：Crescent Editor：Colin Wu 1. Japan’s Weekly Summary 1.1 MUFG, Japan’s Largest Bank, to Issue Local Bank-backed Stablecoins on Multiple Public Blockchains link On June 3rd, according to Ledger Insights, MUFG, Japan’s largest bank, announced that its Progmat Coin solution will issue a local bank-backed stablecoin on multiple public blockchains, including Ethereum, Avalanche, Cosmos, and Polygon. This initiative is in its early stages, and the exact timeline for the release has not been determined yet. 1.2 BitFlyer Announces Restrictions on Cryptocurrency Deposits and Transfers, Limited to Exchanges and Wallets Complying with Travel Rule link On May 30th, according to Coinpost, the Japanese cryptocurrency exchange BitFlyer announced that starting from 15:00 on May 30th, it will only support cryptocurrency deposits and transfers from exchanges or wallets that comply with travel rules, such as MetaMask. The supported types of cryptocurrencies under the travel rules are also limited, ...
Read more

Introduction to THE APEX POWER (TAP) | The Best Renewable Energy Solutions

Image
The world is facing a major environmental crisis caused by the use of non-renewable energy sources. These sources of energy, such as coal and oil, are harmful to our environment and contribute to climate change. As a result, there is a growing need to transition to renewable energy sources, which are sustainable and environmentally friendly. Renewable energy sources such as solar power, wind power, and hydro power are gaining popularity around the world. The adoption of these energy sources is not only beneficial for the environment but also for businesses and individuals looking to reduce their energy costs. The Apex Power (TAP) is a company that specializes in renewable energy solutions. They provide sustainable energy solutions to businesses and individuals looking to reduce their carbon footprint and transition to green energy. Solar Power Solar power is a renewable energy source that harnesses the energy of the sun to produce electricity. It is one of the most popular fo...
Read more