Why The US Government Will be Forced to Provide Crypto Regulations
Three major reasons why it will need to get its act together regarding digital assets.
After several years of crypto companies requesting clarity from US regulators, notably the US Securities and Exchange Commission (US SEC), the world’s largest economy still lacks clear regulations for altcoins.
Much of this boils down to whether digital assets are deemed securities or commodities in the eyes, whereby trading the latter in the US is controlled by the Commodities and Futures Trading Commission (CFTC).
I recommend this article from Coindesk for an in-depth explanation of these categories and why these classifications are significant from financial and legal perspectives.
Bitcoin is the only one officially listed as a commodity, whereas doubts remain about Ethereum and other altcoins/tokens. More on this later on in the piece.
I will cover three reasons why the US Government must get its $h!t together if it wants to be taken seriously as a Bitcoin/crypto and blockchain technology hub.
