Two major crypto bills were introduced in the U.S. House of Representatives on Thursday. One aims to establish which cryptocurrencies are securities. The other looks to put regulation of exchanges in the hands of the country's commodities regulator.
The securities bill
The Securities Clarity Act, from the office of Representative Tom Emmer (R-MN) establishes a new distinction in securities law between an investment contract and the "an asset sold pursuant to an investment 22 contract, whether tangible or intangible (including an 23 asset in digital form)."