Title: US Lawmaker Introduces Crypto-Currency Act of 2020 While Under Coronavirus Quarantine – Regulation Bitcoin News
Headings: US Lawmaker Introduces Crypto-Currency Act of 2020 While Under Coronavirus Quarantine
US Lawmaker Introduces Crypto-Currency Act of 2020 While Under Coronavirus Quarantine
Cryptocurrency Act of 2020 Introduced
Proposed Regulators Under Cryptocurrency Act of 2020
Lawmaker Wants America to Lead in Cryptocurrency
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Content: No more murkiness, uncertainty, or confusion,” the lawmaker detailed. Rep. Paul Gosar announced on Monday that he has introduced the Cryptocurrency Act of 2020 while under self-quarantine after he was exposed to the coronavirus. Gosar has served as a member of the U.S. House of Representatives from Arizona since 2011. The lawmaker is currently under self-quarantine after he and some of his staff members came in contact with an individual who has since tested positive for and is hospitalized for COVID-19. During the Conservative Political Action Conference (CPAC), he shook hands with the individual several times. While insisting that he is not experiencing any symptoms, Gosar said, “I will remain at my home in Arizona until the conclusion of the 14 day period following my interaction with this individual.” He added that his office in Washington, D.C., is closed for a week. Proposed Regulators Under Cryptocurrency Act of 2020
The aim of the bill, according to its text, is to “clarify which federal agencies regulate digital assets, to require those agencies to notify the public of any federal licenses, certifications, or registrations required to create or trade in such assets, and for other purposes.” The bill defines “crypto-commodity,” “crypto-currency,” and “crypto-security.” It proposes that the Commodity Futures Trading Commission (CFTC) be the primary regulator of crypto-commodities, the Financial Crimes Enforcement Network (FinCEN) and the Comptroller of the Currency be the regulators of cryptocurrencies, and the Securities and Exchange Commission (SEC) be the regulator of crypto-securities and “synthetic stablecoins.”