Legislatures in many countries are pondering whether to regulate cryptocurrencies or will they disappear by themselves? 2019 has shown that digital assets have come into our lives in earnest and for a long time. For example, the legal and trade status of bitcoin in the United States is expected soon. This means that a digital asset will become as commonplace as a stock or futures. The Mongolian authorities are engaged in the implementation of payment for utilities using blockchain technology, and Iran and Venezuela have even introduced (albeit not very successfully) state cryptocurrencies, writes panalexandr.com.
Against this background, bitcoin billionaires, the Winklevoss brothers are engaged in a systematic advertising campaign for cryptocurrencies among American lawmakers. In particular, the twins launched a billboard advertising campaign called "Cryptocurrency Needs Rules."
The internationally renowned Intercontinental Exchange platform has promised the launch of Bakkt Bitcoin futures. Cryptocurrency number one against the background of this news was already ready to rise, but the start of Bakkt had to be postponed indefinitely.
The confusion took advantage of the CoinFLEX platform, promising futures for Bitcoin, as well as Ethereum and Bitcoin Cash.
The situation with the Bitcoin ETF is in limbo. This is an exchange-traded fund that uses bitcoin as an asset. But the SEC doesn't seem to be thrilled with this. She promises to sort out the issue and express her decision in early spring 2019.
Similar ETFs are also expected in Japan. True, it became known that the government of the state is not going to allow bitcoin futures so far.
Cryptocurrency Regulation 2019: The Sprouts of New Legislation
Several senators from Colorado (USA) have proposed deleting some of the tokens from the category of securities. We are talking about the “Law on Digital Tokens” in force in the state, which automatically defines digital currencies, albeit rather vague.
In particular, the document states that “a coin is a digital unit with certain characteristics that can be exchanged for goods and services. The coin is transferred between persons without the participation of intermediaries”.
Also, the senators said that the blockchain can already become a “decentralized Internet”.
Meanwhile, the state of Texas is talking about the recognition of stablecoins in cash (along with fiat). We are talking exclusively about cryptocurrencies tied to finance more familiar to the average person (the US dollar). There are more than a dozen of such currencies (Tether, TrueUSD, Bridgecoin …). All other assets, including bitcoin, in Texas are not yet considered subject to legal regulation.
