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Bill in USA proposes federal standards for crypto exchanges (good news for crypto)

Tappman

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Currently crypto exchanges have to obtain a money transfer license in each state that they wish to operate. A new bill called The Digital Commodity Exchange Act of 2020 has been proposed. If passed, exchanges could receive federal approval and operate across the country. This is good news I feel. It seems to be one more step towards mass adoption.
 
It is a good news because the exchange platforms can now be tracked because they will be registered , this reduce the scam rate and also boost Internal revenue generation for the states and the country at large
 
Currently crypto exchanges have to obtain a money transfer license in each state that they wish to operate. A new bill called The Digital Commodity Exchange Act of 2020 has been proposed. If passed, exchanges could receive federal approval and operate across the country. This is good news I feel. It seems to be one more step towards mass adoption.
This can help screen out the legit exchange companies from the scam ones , as all the exchange companies will be forced to register under the government for monitoring activity
 
I agree with both of you but most people in the USA don't know how to buy and sell crypto or they're afraid to because they don't know the legality of it. Add this to the fact that many don't know what it even is. This kind of recognition will ease people's minds. It seems like every day there's news like this which all suggests that a big move for bitcoin lies ahead in the near future.
 
I think it's really a good news because there are so many scam exchange sites out there and regulating it is the best option out there
 
The American Senate have always been interested in cryptocurrency and I assume that they are the ones proposing this bill. Exchanges interested in operating within America might have no choice but to succumb to the law.
 
The American Senate have always been interested in cryptocurrency and I assume that they are the ones proposing this bill. Exchanges interested in operating within America might have no choice but to succumb to the law.
If they dont accept or follow the law as it is been said i think they would face the wrath , which they wont want to face at the end i think
 
These are just regulatory measures which will put the exchange platforms on alert that they are accountable and traceable if they misconduct.
 
These are just regulatory measures which will put the exchange platforms on alert that they are accountable and traceable if they misconduct.
It's better than shutting them down and it's okay since they are not against Cryptocurrency in general like other countries who banned exchangers
 
Currently crypto exchanges have to obtain a money transfer license in each state that they wish to operate. A new bill called The Digital Commodity Exchange Act of 2020 has been proposed. If passed, exchanges could receive federal approval and operate across the country. This is good news I feel. It seems to be one more step towards mass adoption.
Yes, actually this is a good News for the crypto community. We need more assistance to rule in the near future and if developments like this keeps coming in, l'm sure very soon we will reach our destination.
 
I think this a very important bill because it will allow the government to regulate the crypto currency exchange Business and a lot of scam related issues in the market will downgraded to it's bearest minimum
Yeah truly scam has been on the rise and there need to be proper regulation , i just hope its not been compromised by some kind of people
 
If they dont accept or follow the law as it is been said i think they would face the wrath , which they wont want to face at the end i think
Sometimes I think the government treats its people like cash cows.
They want to be able to control everyone which are running into millions meanwhile they are minority compared to the number of people they exerting power over. Nobody wishes to get caught up in the government's wrath anyhow.
 
Sometimes I think the government treats its people like cash cows.
They want to be able to control everyone which are running into millions meanwhile they are minority compared to the number of people they exerting power over. Nobody wishes to get caught up in the government's wrath anyhow.
Yeah i think you are right because the government always look for what they could gain control of but most times the control is to make things better ,because what if people get scammed by the crypto exchange sites
 
This is a good development that is sure to increase the influence of crypto on the market, with time we would see how far the impact would be
 
The United States of America and one of the countries that in huge support of cryptocurrency. There are a lot of billionaires in United States that supports cryptocurrency and as such the government and the people will benefit from it.
 

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