In the current version of the US cryptocurrency regulation bill, provisions on non-fungible tokens (NFTs) and environmental issues were not included, said U.S. Senator from Wyoming Cynthia Lummis.
She said that difficulties in classifying NFTs had blocked their inclusion in the bill, and she expressed hope that regulators would eventually reach a consensus on the issue.
The bill would harmonize the legal framework so that cryptocurrencies and traditional assets fall under the same regulatory categories, Lummis emphasized.
In particular, it would divide powers between CFTC and SEC. Under the supervision of the first agency would be assets that are considered commodities and traded on the spot or futures markets; the second would cover those classified as securities under the Howey test.
She added that the bill would allow using cryptocurrencies in payments and integrate the asset class into 401(k) retirement accounts. Earlier, Fidelity Investments заявили in Fidelity Investments that it planned to offer clients such a possibility.
The document also touches on CBDCs, but Lummis declined to specify details.
Work on the comprehensive document — from taxation to consumer protection — began in December 2021.
In March 2022, Lummis and her colleague Kirsten Gillibrand clarified that the bill would grant the CFTC additional powers and include the SEC definitions of securities.
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