06 Dec Congressman Finalizing Bill to Exempt ICOs from Securities Laws
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Republican Congressman Warren Davidson, an avowed bitcoin adn blockchain fan, plans to introduce federal legislation that will regulate initial coin offerings (ICO) and cryptocurrencies.
The bill would create an “asset class” for tokens, which would prevent them from “being classified as securities, but would also allow the federal government to regulate initial coin offerings more effectively,” Cleveland.com reported.
US Congressman Warren Davidson discusses bipartisan bill that could classify tokenized assets as being exempt from securities laws. #BlocklandCle18 #blockchain #Cleveland pic.twitter.com/pyrTmWrNl0
— Gregory L. Watkins (@gwatkinsesq) December 3, 2018
Davidson made the announcement at a four-day blockchain conference in Cleveland that featured Ethereum co-founder Joseph Lubin.
@ethereumJoseph on stage at #BlocklandCLE18. Amazing visionary with an incredible story. I am so proud to be a part of @ConsenSys as we all strive to save the world. @evin
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