In accordance with the regulatory program of the American president Donald Trump aimed at promoting innovation and adopting a greater adoption of cryptocurrencies in the country, the journalist of Fox Eleanor Terret A reported That a new discussion project on the structure of the House of Representatives aims to clarify the treatment of digital products.
More specifically, he claims that transactions involving the sale of digital products will not be classified as securities, provided that these transactions do not grant any participation in buyers in the activities, profits or assets of the transmitter.
Proposed legislation requires clarity on cryptographic transactions
This proposed legislation indicate that if an individual buys or sells digital products on the secondary market – rather than directly from the issuer – the transaction will not automatically trigger American securities laws, unless it gives a form of ownership or complaint on the benefits or assets of the company. This distinction is crucial to promote a more favorable environment for trading and investment of cryptography.
The bill describes several critical modifications to existing laws, in particular the SECURITIES INVESTOR PROTECTION ACT of 1970. In particular, it defines “investment contracts” in a way that excludes some digital products to be classified as titles.
This means that secondary market transactions involving cryptographic assets may not be subject to strict regulations generally applied to securities under various acts, including the Securities ACT of 1933 and the Placement Councilors of 1940.
Matthew Sigel de Vaneck highlights key changes
Matthew Sigel, manager of digital asset research of the Vaneck asset management company, summary The implications of the bill by highlighting several key points.
A major change is the abolition of income and wealth limits for retail buyers, which opens the market to a wider audience. In addition, the bill eliminates the need for controls from accredited investors, simplifying access to investment opportunities in cryptographic assets
Another important aspect of the project is the introduction of a clear decentralization test, which requires that no entity is a unilateral control over a digital goods. Projects that do not meet this criterion will face a meticulous examination, as holders of more than 10% of the project must be disclosed while it remains centralized.
The bill also provides exemptions for Decentralized finance (DEFI) Protocols, as long as they are not guardians and do not exercise discretion on user funds.
In addition, the project defines the stablescoins without categorizing them as titles, which needs that digital assets are increasingly popular.
He also describes an optional early recording path for issuers and underlines the need for joint regulations between the SEC and the Combo -Due Futures Trading Commission (CFTC), more indicating a collaborative approach to cryptographic regulations.
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