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WebsCrypto—Markets—U.S. Senators Gillibrand and Lummis Officially Release Crypto Regulation Bill
Markets

U.S. Senators Gillibrand and Lummis Officially Release Crypto Regulation Bill

By WebsCryptoJune 8, 20221 Min Read
U.S. Senators Gillibrand and Lummis Officially Release Crypto Regulation Bill
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U.S. Senators Kirsten Gillibrand and Cynthia Lummis have officially released the Crypto Regulation Act, which favors the U.S. Commodity Futures Trading Commission (CFTC) as a regulator and removes tax concerns for users using cryptocurrencies to buy goods.

It is reported that the bill is the first bipartisan attempt to establish a comprehensive regulatory framework for digital assets in the United States, defines the field between encrypted securities and commodities, allows encrypted companies to test new products on a limited scale and duration, and requires raising funds through digital asset sales. companies disclose specific information to the SEC.

Additionally, the bill provides for a full tax exemption for crypto transactions under $200, and will create new federal laws for stablecoins, micropayment taxes, and the jurisdiction of regulators.

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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