Representatives of the crypto community shared their responses to the proposed Digital Commodities Consumer Protection Act (DCCPA) on Sept. 15. Speaking at the second panel of a hearing held by the Senate Agriculture Committee, invited speakers praised the bill as a whole, but had recommendations for improvement.
Definitions were an issue for all five of the speakers and Blockchain Association head of policy Jake Chervinsky, who released a statement on the bill within moments of the conclusion of the hearing. All the commenters expressed a desire for a clearer definition of securities and commodities.
“While the bill includes a carve-out for securities, it does not explicitly define what is or is not a security (through the application of the Howey test or otherwise),” Coinbase vice president and deputy general counsel Christine Parker said.
Crypto Council for Innovation CEO Sheila Warren said:
“The bill leaves it to the agencies and the Courts to determine whether a digital asset,...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...