US: New Legislation Proposes to Exclude Crypto From Securities Laws

Two United States congressmen introduced a bill in the House of Representatives on Dec. 20 that would exclude digital assets from being defined as securities.

The “Token Taxonomy Act of 2018” was introduced by Reps. Warren Davidson (R) and Darren Soto (D) and seeks to exclude digital currencies from being defined as securities by amending the Securities Act of 1933 and the Securities Act of 1934. The bill especially calls to:

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