Congress Introducing Legislation to Designate Cryptocurrency as a New Asset Class


A new bill introduced to the US Congress may lead towards cryptocurrency become it’s very own asset class.

The Proposal

US Representative Warren Davidson plans to bring some needed clarification for those who are confused on whether cryptocurrency should become categorized as securities, commodities or properties.

According to a report done by Cleveland.com, the bill would create an asset class for tokens, preventing them from,“being classified as securities, but would also allow the federal government to regulate initial coin offerings more effectively,”.

Davidson has also stated that this bill will help to legitimize the blockchain industry, allowing startup companies the right to raise capital different way, directly from consumers.

Our Thoughts.

If Davidson manage to successfully pull this off, both blockchain and cryptocurrency will earn even more staying power in the US, allowing more business to crop up. Besides the beneficial boost to the local job business, having more people become involved with either types of business could lead towards an even greater boost for the tech. Cleaveland has been shown to be preparing itself for blockchain startups and Wyoming has become very welcoming as well.

Do you think Davidson will be successful in pushing the bill?

Let us know your thoughts.


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Keith Wang

Keith Wang is a writer and programmer specializing in bitcoin and blockchain technology. Keith has been a long time believer of bitcoin and blockchain technology and spends his free time following up with blockchain news.

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