1. Short title This Act may be cited as the Crypto-Currency Act of 2020 . 2. Definitions In this Act: (1) Crypto-commodity The term crypto-commodity means economic goods or services, including derivatives, that— (A) have full or substantial fungibility; (B) the markets treat with no regard as to who produced the goods or services; and (C) rest on a blockchain or decentralized cryptographic ledger. (2) Crypto-currency The term crypto-currency means representations of United States currency or synthetic derivatives resting on a blockchain or decentralized cryptographic ledger, including— (A) such representations or synthetic derivatives that are reserve-backed digital assets that are fully collateralized in a correspondent banking account, such as stablecoins; and (B) synthetic derivatives that are— (i) determined by decentralized oracles or smart contracts; and (ii) collateralized by crypto-commodities, other crypto-currencies, or crypto-securities. (3) Crypto-security (A) In general The term crypto-security means all debt and equity that rest on a blockchain or decentralized cryptographic ledger. (B) Exception The term crypto-security does not include a synthetic derivative that— (i) is operated as, and is registered with the Department of the Treasury as, a money services business (as defined under section 1010.100 of title 31, Code of Federal Regulations); and (ii) is operated in compliance with all applicable requirements of subchapter II of chapter 53 of title 31, United States Code (commonly referred to as the Bank Secrecy Act ) and all other Federal anti-money laundering, anti-terrorism, and screening requirements of the Office of Foreign Assets Control and the Financial Crimes Enforcement Network. (4) Decentralized cryptographic ledger The term decentralized cryptographic ledger means a ledger that— (A) runs as a stand-alone blockchain that is secured through a minting mechanism such as proof-of-work, proof-of-stake, or otherwise