Nugenesis Federal Reserve Act proposed amendment 2 part comprehensive revision (Part 1)

The” digital asset market structure and investor protection bill ” envisages a comprehensive regulation of the crypto industry.  This is inevitable.  Nothing to complain there.  It’s a sign, however, that distributed ledger technology is reaching adulthood.  It is no longer an area of nerd, anarchist or bank oligopoly.  It’s mainstream, and the U.S. government tells the world that “governments want to participate.”

The Federal Reserve Act proposes amendments stating that the Federal Reserve “has the authority to use distributed ledger technology to create, distribute, and record all transactions related to the Federal Reserve’s digital notes.”   Yeah, it means we feed the tails.  But there’s much more than that.  We are no longer relegated to the status of” a weird friend at parties who doesn’t shut up about bitcoin.”  We’re on the front line and the rest should be modern. 

For most people, this means participating in crypto projects where securities laws are at risk.  Just ask Ripple Labs, which was bought on the exchanges 7 years after the first sale and hit in vain in the foreign exchange markets, where investors who had nothing to do with Ripple lost a fortune because the SEC claimed to be protecting them.  

 So, in Part 1, we will look at the impact on securities legislation and what this bill means for the Howie test.  The short answer is not much.   The two main changes are:::

Mimic traditional securities liquidations in dividends, voting rights, it is not surprising giving crypto assets, income, 2A (I) Section is considered to be securities under the new definition of securities.;
These crypto assets issued by a bond issuer with a license or platform will not fully function during the release of such a digital asset in connection with fund-raising or capital-raising activities.  Where is the release money

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