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by COINS NEWS 46 Views

There are several bills in Congress that will change the crypto-verse. The most important is HR 4763, aka the Financial Innovation and Technology for the 21st Century Act. Among many aspects, this bill is finally going to determine the rules for the SEC and the CFTC. It'll expand the Howey Test for use in crypto, helping to determine which coins and tokens are actually securities and which are commodities. It'll also force the SEC to create a clear path to compliance, instead of the chaos that is happening now. For example, Coinbase was given the green light by the SEC, but now they are suing them for selling securities.

At the moment, support for this bill is lacking. So call your representatives and get them to vote in favor of HR 4763. https://www.congress.gov/bill/118th-congress/house-bill/4763/text

submitted by /u/ChucklesFreely
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