Messari CEO: Republican crypto bill a '10x improvement'
Ryan Selkis, the CEO of crypto research firm Messari, has praised the Republican-backed "Eliminate Barriers to Innovation Act of 2023" as a significant improvement on other US crypto bills.
Selkis stated that the bill had been "crafted with input from a diverse set of stakeholders," including industry experts and regulators, and that it addressed key issues such as tax treatment and the definition of digital assets.
The legislation proposes a new regulatory framework for cryptocurrencies, including the creation of a new category of digital assets called "consumer tokens" that would be exempt from securities laws.
The bill also seeks to clarify tax treatment for crypto transactions and proposes a more streamlined process for the approval of crypto ETFs. The bill has yet to be passed into law, but Selkis has described it as a "10x improvement" on previous crypto bills.
What crypto spheres are needed to be regulated primarily?
