It’s time for the feds to outline digital commodities
This month, the European Union (EU) agreed on the textual content for a unified licensing regime for cryptocurrency exchanges to function throughout the EU bloc as a part of its Markets in Crypto Property Regulation (MiCA). America — regardless of being a standard international chief in authorized frameworks for technological innovation — has not offered that very same regulatory readability.
Nationwide cryptocurrency exchanges within the U.S. are regulated on the state degree by way of a patchwork of cash transmission legal guidelines that overburden corporations whereas under-protecting shoppers. In our view, many digital tokens are correctly characterised as digital commodities moderately than securities. But, a unified federal regime for cryptocurrency exchanges itemizing digital commodities doesn’t exist.
Chen Li is the CEO of Youbi Capital, a digital asset VC and accelerator.
Ivo Entchev is a blockchain lawyer and authorized adviser to Youbi.
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Originally published at Gold Coast News HQ
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