Weekly SmartPills #17

A LAW ON CRYPTOCURRENCIES IS COMING TO THE UNITED STATES: CHAOS COULD FINALLY FIND ORDER

The world of cryptocurrencies in the United States is characterized by a complex relationship, marked by enthusiasm from investors and aversion from some regulatory bodies, especially the SEC. But finally, a change may be on the horizon that will bring some order and clarity to this sector.

A proposed bill has reached the United States Congress aiming to define the essential regulations to be applied to crypto platforms and exchanges. This bill will play a fundamental role in outlining the rules for the cryptocurrency sector, one of the world’s largest economies.
Among the proposed measures is the requirement for regulatory authorities to define key terms such as "blockchain."

SEC and CFTC: Specific rules for the cryptocurrency sector

The bill requires the SEC and the CFTC to establish specific rules for exchanges and centralized platforms, with particular attention to digital assets such as cryptocurrencies. However, the proposal does not interfere with how users hold cryptocurrencies or other digital assets like NFTs.
This will provide clarity on cryptocurrency trading and exchange operations, improving investor confidence.

The Financial Innovation and Technology for the 21st Century Act

The bill, called "The Financial Innovation and Technology for the 21st Century Act," is an essential step for the cryptocurrency sector in the United States. With the debate around cryptocurrencies often becoming politicized, this proposed law represents a light at the end of the tunnel to bring order and clarity back to this field.

Analyzing the text of the bill, some interesting details emerge. Token issuers will be required to have a presence in the United States and a well-defined plan for the future. Purchase limits are imposed to protect consumers and prevent dangerous concentrations that could lead to market manipulation.
The SEC will oversee platforms offering digital securities, while the CFTC will be responsible for digital commodities.

It is still uncertain whether this proposed bill will succeed, considering that control of Congress is currently in the hands of the Democratic Party, while the initiative comes from the Republican Party.
However, this signal of attention and interest from U.S. lawmakers marks an important step toward greater regulation and clarity for the cryptocurrency sector in the country.

Conclusions

The proposed cryptocurrency bill in the United States represents a positive signal for the sector, offering the possibility of establishing clear and stable rules for exchanges and crypto platforms.
This step forward could bring greater security and confidence to investors, helping to put an end to the chaos that has characterized the relationship between the United States and cryptocurrencies.
We remain eager to see the future developments of this proposal and hope it will lead to a better regulatory environment for the world of cryptocurrencies in the United States.