Lawmakers Reintroduce Bill To Exclude Digital Currencies From Definition of Security

Federal lawmakers are re-upping efforts to exclude digital currencies from the definition of a security.

The Token Taxonomy Act was introduced in December 2018 but never went to a vote. Rep. Warren Davidson (R-OH) announced earlier this month the legislation was being reintroduced, calling it the “key to unlocking blockchain technology in the U.S.”

The bill, which follows months of collaboration between lawmakers and stakeholders, aims to clarify regulatory rulings and a patchwork of judicial decisions that officials said has created uncertainty for the cryptocurrency industry.

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