Title: Cryptocurrency Act of 2020, the new US bill - The Cryptonomist
Headings: Cryptocurrency Act of 2020, the new US bill
Cryptocurrency Act of 2020, the new US bill
The new ‘Federal Crypto Regulator’ entities
The stablecoins listed in the Cryptocurrency act of 2020

Content: Cryptocurrency Act of 2020, the new US bill - The Cryptonomist
Regulation
Cryptocurrency Act of 2020, the new US bill
By Stefania Stimolo - 4 Jan 2020
The US is introducing a new bill called the ‘Cryptocurrency Act of 2020‘ which aims to provide a new general regulatory framework for digital assets such as cryptocurrencies. According to reports, it seems that after the case of the Facebook Libra project, US legislators have agreed to introduce regulation in 2020. More specifically, the Cryptocurrency Act of 2020 would be the new document clarifying which federal agencies can regulate the crypto world in the US so that they can then communicate the issuance of licenses, certifications or the necessary federal requirements to create or exchange all digital assets. The draft document currently contains some points that may already show the initial direction taken by Congress. The new ‘Federal Crypto Regulator’ entities
The entities referred to as the new ‘Federal Crypto Regulator’ should be: the Commodity Futures Trading Commission (CFTC),
the Securities and Exchange Commission (SEC),
the Financial Crimes Enforcement Network (FinCEN). In addition, each of these three agencies will have specific expertise: the CFTC in the crypto-commodity area, the SEC with crypto-securities and the FinCEN with crypto-currencies. The draft also includes a series of definitions to delimit the categories belonging to the crypto world and therefore the powers of the chosen government bodies. Crypto-commodity, for example, defines those economic goods or services that have a total or substantial fungibility, which the markets deal with regardless of who produced those goods or services, and which are based on a decentralised blockchain or cryptographic ledger.