COLORADO INTRODUCED A BILL THAT PROVIDES AN EXCEPTION TO THE SECURITIES LEGISLATION
The deputies of the state of Colorado presented a bill on digital assets, which proposes to withdraw cryptocurrencies from the action of regional securities legislation. Meanwhile, the local financial regulator has already taken measures against 20 ICO.
The note to the document says:
“The bill provides an exception for digital tokens from the requirements for the registration of securities, as well as the services of brokers and sellers.”
Under the current laws, the business of the state is inevitably faced with “regulatory uncertainty”, the authors of the bill believe.
In addition, the initiative involves the introduction of an ICO procedure — attracting business capital using cryptocurrencies in order to grow and expand activities.
The bill introduces special requirements for tokens — if a particular digital asset does not meet them, then the Howie test will be applied to it.
In May, the Colorado authorities allowed the possibility of making political donations in cryptocurrencies.