Colorado Senators File Bill to Exempt Cryptos from Securities Laws

Two lawmakers from the U.S. state of Colorado have introduced legislation seeking to exempt cryptocurrencies and certain digital tokens from securities laws.

On Friday, senators Stephen Fenberg (Democrat) and Jack Tate (Republican) jointly filed a bill dubbed the “Colorado Digital Token Act,” proposing that digital tokens with a “primarily consumptive” purpose should be exempted from securities laws provided they are not marketed for “speculative or investment” purposes.

The move is aimed to remove “regulatory uncertainty” that could hold back firms offering marketplaces for tokens and others aiming to fundraise using crypto assets.

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