Two members of the U.S. House of Representatives have introduced a bill that would exclude digital currencies from the definition of a security, an effort from lawmakers to provide bright line rules and regulatory clarity to the cryptocurrency industry.
The bill, H.R. 7356, known as the Token Taxonomy Act was introduced by Reps. Warren Davidson, R-OH, and Darren Soto, D-FL, in late December. The new legislation would define a “digital token” and exclude such tokens from the definition of a security. Read more.