US Legislators Reintroduce Token Taxonomy Act to Exclude Crypto From Securities Laws
As of April 9th 2019, U.S. Congressman Warren Davidson (R-OH) has submitted the Token Taxonomy Act of 2019 (H.R. 2144) to propose an amendment of the Securities Act of 1933. The change would establish the ‘digital token’ as a new digital asset class, thereby exempting such tokens from securities laws and subsequently proposing a new tax structure.