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Proposed Stabenow-Boozman Bill Would Provide Protection for CEX Crypto Users

By Simon LawsonOctober 19, 20221 Min Read
Proposed Stabenow-Boozman Bill Would Provide Protection for CEX Crypto Users
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FTX founder Sam Bankman-Fried (SBF) stated that general Crypto commerce cannot function without peer-to-peer data transfer and free presumption.

As long as it’s not a scam, Crypto must be freely writeable software. The job of a validator is to validate, not review. I am optimistic that Stabenow-Boozman will provide protections for CEX users without jeopardizing the existence of software, blockchain, validators, DeFi, etc. If I am sure I am wrong, I will not support this bill.

It is reported that Debbie Stabenow, chairman of the U.S. Senate Agriculture Committee, and John Boozman, a Republican of Arkansas, have submitted a bipartisan bill to the U.S. Senate to protect consumers of digital goods.

The aim is to define bitcoin and ethereum as a new classification of so-called digital commodities that are not securities, and to give the U.S. Commodity Futures Trading Commission (CFTC) the power to regulate both.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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