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: Crypto-currency, on the other hand, is defined as follows: Crypto-currency is defined as representations of United States currency or synthetic derivatives resting on a blockchain or decentralized cryptographic ledger. The types that are included in this definition are: such representations or synthetic derivatives that are reserve-backed digital assets that are fully collateralized in a correspondent banking account, such as stablecoins. synthetic derivatives that are determined by decentralized oracles or smart contracts; and collateralized by crypto-commodities, other crypto-currencies, or crypto-securities. Crypto-securities, on the other hand, are debt, equity and derivatives based on a decentralised blockchain or cryptographic ledger, with one exception
The stablecoins listed in the Cryptocurrency act of 2020
Even stablecoins are defined in the new US legislative document, divided into two categories: reserve-backed stablecoins and synthetic stablecoins. Reserve-backed stablecoins are a representation of currency issued by the United States or a foreign government that rests on a blockchain or a decentralised cryptographic ledger and is fully backed by that currency on a one-to-one basis and fully collateralised in a corresponding bank account. Synthetic stablecoins, on the other hand, are like a digital asset stabilised with respect to the value of a currency or other asset that also rests on a decentralised blockchain or cryptographic ledger.