In the United States, new requirements have been set for cryptocurrency issuers
Date: 2023-07-23 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
Members of the Republican Party in the US House of Representatives unveiled a new bill to regulate digital assets, which should protect crypto investors
The bill, among other things, excludes from the definition of "digital assets" a number of traditional securities, such as shares, bonds, "transferable shares", "certificates of participation or participation in any profit-sharing agreement", etc.
Digital asset projects will be exempt from the typical registration of securities offerings up to a certain point. Issuers can offer tokens worth up to $75 million for 12 months, but with restrictions on selling to non-accredited investors, to which the majority of buyers belong.
At the same time, issuers will still have to submit information to the US Securities and Exchange Commission (SEC), including annual and semi-annual reports on the project. At the same time, the SEC and the US Commodity Futures Trading Commission (CFTC) must provide rules for digital assets for trading platforms and exchanges.
Requirements for token issuers
Issuers will be required to limit purchases to 5% of annual income or equity. Regardless of income, it cannot sell more than 10% of its tokens to any one buyer, and the transaction cannot involve other digital assets, traditional debt or shares.
The bill also contains language explicitly prohibiting the mixing of customer assets. In addition, token issuers must be registered in the United States and not have any claim from the SEC for five years prior to the issuance of tokens.
DeFi Regulation
Earlier, U.S. senators introduced a new bill that would impose tough anti-money laundering (AML) requirements for decentralized finance (DeFi) protocols. The draft law requires DeFi platforms to introduce banking control over the user base.
The initiative was created to combat the rise in crypto-related crime and block opportunities for money laundering evasion and sanctions measures that are crucial to national security.
