Colorado senators file bill to exempt cryptos from securities laws

posted 2 months ago
Two lawmakers from the US state of Colorado have introduced legislation seeking to exempt cryptocurrencies and certain digital tokens from securities laws. The bill “Colorado Digital Token Act” proposes that digital tokens with a “primarily consumptive” purpose should be exempted from securities laws provided they are not marketed for “speculative or investment” purposes.

The move is aimed to remove “regulatory uncertainty” that could hold back firms offering marketplaces for tokens and others aiming to fundraise using crypto assets. The Colorado Digital Token Act says “...enable colorado businesses that use cryptoeconomic systems to obtain growth capital to help grow and expand their businesses, thereby promoting the formation and growth of local companies and the accompanying job creation and helping make colorado a hub for companies that are building new forms of decentralized “Web 3.0″ platforms and applications.”
Tags: bitcoin, news