Colorado Digital Token Act
Following other US states, Colorado has decided to take action to make cryptocurrencies more lawfully determined. On Friday, new Digital Token Act proposal was issued. It is supposed to limit exemptions from the securities registration.
American crypto dream
USA gradually implements cryptocurrency regulations one state after another. It’s certainly a way of following the worldwide trend of being cryptocurrency and blockchain friendly. More and more countries are seeing the need for regulating crypto-related transactions and activities, to avoid illegal acts and fraud. Recently, we’ve heard about Ohio accepting tax payments in crypto. But other states follow quickly. Now, Colorado has announced a new bill that concerns digital currencies.
New law, new Colorado
The new Digital Token Act proposal was issued on Friday, January 4. The bill includes the definition of digital currencies and introduces many regulations in that field. Above all, the document limits the exemptions from the securities registration as well as licensing requirements for investors dealing with digital tokens. Such limitations will probably cause an increase in cryptocurrency-related investments, which inevitably will lead to popularization of crypto technology in Colorado.
The Act is supposed to help local businesses to grow and explore the technology further. Unfortunately, there have been difficulties in the legislative process – first, the bill was accepted and then withdrawn, after some lawmakers changed their minds. Soon, probably next Friday, the document will be introduced in a slightly changed form and the voting will be organised once again. Let’s hope that this time, everything goes smoothly for the Colorado cryptocurrency industry.
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