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.
