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New Cryptocurrency Bill Groups Assets Into Three Distinct Groups
Summary: A new cryptocurrency-focused bill is currently In front of Congress that will “fundamentally restructure the way the United States treats cryptocurrency,” by grouping assets into three distinct categories. The proposed Crypto-Currency Act of 2020 would split cryptocurrency into three distinct types; Crypto-Commodity, Crypto-Security and Crypto-Currency, according to founder and CEO of Metal Pay, Marshall Hayner. ...
A new cryptocurrency-focused bill is currently In front of Congress that will “fundamentally restructure the way the United States treats cryptocurrency,” by grouping assets into three distinct categories.
The proposed Crypto-Currency Act of 2020 would split cryptocurrency into three distinct types; Crypto-Commodity, Crypto-Security and Crypto-Currency, according to founder and CEO of Metal Pay, Marshall Hayner.
“Crypto-Commodity” tokens are identified as “tradable, fungible, and digital assets” that exist on the blockchain representing contracts, utilities, and even real-world commodities.
“Crypto-Security” Assets are described as tokens that are used as an instrument existing on a blockchain network that is often tied to an external asset, such as a share of a company.
The final type of asset is “Crypto-Currency” tokens, which consists of stablecoins, designed to resistance money-laundering and counterfeiting, among other “common issues.”
Ramsey Baker
Tags: Bill,Congress,Cryptocurrency,groups,Marshall Hayner,Metal Pay,United States
Link: New Cryptocurrency Bill Groups Assets Into Three Distinct Groups [Copy]
