Cryptocurrency exchange Jamming calls on legislators to establish regulations for the digital asset industry.
“Blockchain technology and digital assets reshape the global economy, bringing opportunities for innovation, financial inclusion and economic growth,” wrote the company on its blog Wednesday (February 19). “However, the absence of clear legislation in the United States stifles this potential, leaves consumers exposed and stimulates innovation abroad.”
Among the legislative priorities described by Coinbase is a law which clearly designs digital assets in a way that distinguishes titles, basic products and other types of tokens.
He also says that legislation should give the Commodity Futures Trading Commission (CFTC) The power to supervise the market at the cryptographic point, “ensure transparency and consumer protection against fraud and manipulation”.
In addition, Coinbase says that the congress should demand the Commission of securities (Sec) to create rules “allowing responsible fundraising while protecting investors”, arguing that developers need a means of “lifting capital for blockchain projects without each token being treated as a security”.
Coinbase also wants the congress to establish a framework for Stablecoins, in order to guarantee that these currencies are “safe, fully supported and transparent while promoting competition and innovation on the market”.
The appeal to business legislation comes while legislators have bills that would governed the space of Stablecoin.
For example, republican representatives. French hill (Ar) and Bryan Steil (Wi) earlier this month, presented a discussion project for an invoice that would create a framework to issue stable payment for payment listened in dollars.
The proposal is based on previous legislative efforts while trying to establish clear regulatory directives for stable issuers at the federal and state levels.
“Based on our work on digital assets during the last congress, our discussion project will bring clarity for the stables of payment and will ensure a federal and state path for stablecoin issuers,” said Hill, Chairman of the Committee of Room financial services.
On the other side of the aisle, Rep. Maxine WatersThe Committee classification democrat, presented a bill last week which would establish a full regulatory framework for payment stables.
“At the heart of the Waters bill is a requirement according to which all the issuers of STABLAGE are either a registered payment payment transmitter, an approved non -banking entity or a subsidiary of an assured deposit institution,” wrote Pymnt . “Entities not registered or not licensed would be faced with rigid penalties, including fines of up to $ 1 million per violation and an imprisonment of up to five years.”
