Gan! ! !
Is the industry going to change?
If HR 4763 is passed, the entire cryptocurrency industry will really change!
Theoretically, the probability of passing this bill is low, and the current number of votes is not high.
But, but, but, the political game of the US election has brought enough variables, maybe, there is really a chance to pass.
Thinking about it makes me excited. If it passes, it will be God’s candle, a cloud-piercing arrow, breaking through the sky! ! !
The following are the details, we strongly recommend reading them carefully.
HR 4763, a bill that amends the 21st Century Financial Innovation and Technology Act, aims to bring significant changes to the regulatory landscape of crypto-assets in the United States. Here are the key aspects and potential impacts of the bill:
1. Regulatory Clarity
Separation of powers: The bill proposes a clear division of responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The SEC will regulate assets that are considered securities, while the CFTC will regulate assets that are considered commodities.
Functional and decentralized assets: Digital assets that are considered functional and decentralized would be classified as commodities and may fall under the jurisdiction of the CFTC. Other assets may be classified as securities and therefore subject to SEC regulation.
2. Issuer control restrictions
Control and Voting Rights: The bill states that no issuer can control more than 20% of digital assets or have more than that percentage of voting rights. This is intended to encourage wider token distribution and greater community ownership, reducing the concentration of control between founders and initial investors.
3. User protection measures
Segregation of client funds: The bill introduces requirements for the segregation of client funds in order to protect user funds in the event of bankruptcy or fraud.
Annual Token Sale Limit: The number of token sales that can be conducted each year will be limited, which prevents excessive market dilution and price manipulation.
Disclosure obligations: Issuers will be required to provide fuller disclosures to ensure transparency and protect investors.
4. Potential Impact
Market Dynamics: By clarifying the regulatory environment and promoting greater decentralization, the bill can increase investor confidence and participation in the crypto market.
Regulatory Compliance: Crypto projects may need to adjust their structures and operations to comply with new regulations, particularly regarding token distribution and control.
Innovation and adoption: Clear regulations can foster innovation by providing a stable legal framework, encouraging more projects and investments in the field.
