Cryptocurrency. Photo: Chinnapong/Chinnapong - stock.adobe.comCrypto Industry Eyes Legislation to Clarify Regulatory Framework
“Unless you’ve got a third agency that's going to say, ‘These are security coins and these are commodity coins,’ it doesn't resolve anything,” said law professor Jack Graves. “This [bill] kind of tries to draw a bright line rule between the two. I think they're dreaming because as soon as you draw rules, everybody's going to be in the gray area trying to move the other direction.”
January 29, 2025 at 05:54 PM
4 minute read
Just over a week into his second term, President Donald Trump has made made strides on his promise to make the United States the “crypto capital of the planet.”
Free from former Chair Gary Gensler’s enforcement-heavy posture on crypto, the U.S. Securities and Exchange Commission has moved to create a crypto task force charged with creating a regulatory framework for digital assets. The SEC has also rescinded Gensler-era accounting guidance on cryptocurrencies that critics said prevented banks from holding digital assets in custody.
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