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What is the Cryptocurrency Act 2020?

13 Jan What is the Cryptocurrency Act 2020?

Posted at 06:33h in Cryptocurrency News by

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Yesterday, I wrote an article about new cryptocurrency regulations popping up around the world.

One of the main pieces of legislation I discussed was the Cryptocurrency Act 2020, a new bill being proposed in the United States.

The goal of the new legislation is to provide additional clarification on digital asset regulations. The bill has some wide-ranging regulations that, if voted into law, could reshape the crypto landscape moving forward – at least in the United States, that is.

The US senator who put forward the Cryptocurrency Act 2020, Paul Goser, stated that it was his desire to attribute regulatory clarity to the market.

In this article, I will dive deeper into what the Cryptocurrency Act 2020 is, how it will affect Americans, and what to expect from regulatory bodies.

The Cryptocurrency Act 2020

The Cryptocurrency Act 2020 begins with the categorisation of digital assets into three main groups. These groups are then used to determine which agencies are responsible for the…

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