XRP, Doge and ETH will be «digital products» with new law in the United States

Foto del autor

By TP

A bipartisan bill, called Clarity Act, was presented to the United States House of Representatives, proposing regulatory reclassification for some cryptocurrencies such as XRP, Dogecoin (Doge) and Ether (ETH) of the Ethereum network. The legislative proposal, which begins its transit by the US Congress, proposes that cryptocurrencies be categorized as digital commodities Or, said in Spanish, «digital products.» And, in addition, he transfers his supervision, which was previously under the mantle of the Bag and Securities Commission (SEC), to the Basic Products Negotiation Commission (CFTC). The initiative, presented on Thursday by the Financial Services and Agriculture Committees of the Chamber, seeks to establish a clear regulatory framework for digital assets In the country, a priority issue in Washington, closing the uncertainty cycle that has persisted for years for the industry. According to Clarity Act's current text, the new category of digital products would cover «any token linked to a blockchain and used to transfer value.» This reduces the possibility that the SEC classifies cryptocurrencies as securities (values). In addition, it introduces the optional designation of “Maduro Blockchain System” for decentralized projects, such as Bitcoin that is open source and without a dominant controlling entity. The legislative initiative also proposes explicitly protecting the right to self -ocustody in a Wallet of its digital assetspromoting Bitcoin users to maintain control of their private keys and the management of their assets without depending on centralized intermediaries. This reinforces financial autonomy and reduces the risk that users should give control to third parties. The bipartisan character of the initiative is remarkable, with the support of Republican and Democratic Copatrocinadores. Among them, the president of the Agriculture Committee, GT Thompson, as well as the leader of the majority of Tommer representatives, and representatives Angie Craig, Ritchie Torres and Don Davis are included. «Our bill contributes a long -awaited clarity to the digital asset ecosystem, prioritizes US consumer protection and innovation,» said the main proponent of the bill, French Hill, who expressed his desire that the legislation reaches the desk of President Trump. This initiative is based on previous legislative efforts, such as the approval reported by cryptonotic laws of the Fit21 law in the House of Representatives despite the fact that he later faced obstacles and lost strength last year in the Senate, controlled by the Democrats. Although it was not promulgated, such a proposal injected optimism at that time because it had bipartisan support. Subsequently, relying on it, the Financial Services and Agriculture Committees actively worked on this issue, with audiences and round tables held in April and May to discuss the key principles of regulation. Now, the Chamber Financial Services Committee It has one scheduled Hearing on the new text of the law for June 4with a review audience planned for June 10, which marks the next steps on the way to this potentially transformative legislation for the cryptocurrency sector in the United States. With this legislation, the country seeks to lead the revolution of digital assets, promoting an innovative environment for the financial future.

0