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US Congressman Announces Certain Plans for Cryptocurrency and ICO Regulation

U.S. Rep. Warren Davidson (R) has reported plans to introduce legislation that would clearly manage cryptocurrencies and Initial Coin Offerings (ICOs).

This improvement would convey clearness to U.S. crypto regulation. Right now, state administrative agencies classify tokens diversely in manners that put them under their locale.

The Securities and Exchanges Commission (SEC) position is that most digital currencies are securities. The Commodity Futures Trading Commission (CFTC), then again, regards cryptographic forms of money as wares.

A representative for the U.S. agent said in November that Davidson is working on a bill that, when the law, would regard ICOs as items as opposed to securities at the government and state level, successfully “evading” security laws.

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