In this roundup, we cover a wide range of regulatory developments in the crypto space. Much has transpired in the U.S., including a new crypto bill, SEC’s proposal, lawmakers seeking answers from the IRS, and the state of Michigan signing several crypto bills into law. We also cover France’s first-approved initial coin offering, a proposal for a unified Muslim crypto, India’s plans to produce 20,000 blockchain experts, and more.
Also read: Regulatory Roundup: Crypto ‘Inevitable’ in India, China Rankings, NY Streamlines Policy
New US Crypto Bill, SEC’s Proposal, Letter to IRS
U.S. lawmakers are reportedly discussing a new bill entitled “Crypto-Currency Act of 2020.” Its stated purpose is to “clarify which federal agencies regulate digital assets, to require those agencies to notify the public of any federal licences, certifications, or registrations required to create or trade in such assets, and for other purposes.”
The bill divides cryptocurrencies into three types: “crypto-commodity,” “crypto-currency,” and “crypto-security.” It…