Engine Supports Token Taxonomy Act

Yesterday, Reps. Darren Soto (D-Fla.) and Warren Davidson (R-Ohio) introduced the Token Taxonomy Act to provide greater regulatory certainty around cryptocurrencies.

The following can be attributed to Engine Executive Director Evan Engstrom:

“The Token Taxonomy Act will help provide the regulatory clarity that the blockchain industry has needed for quite some time. This forward-thinking proposal succeeds in providing clear rules supporting an emerging technology without constraining future growth.

By adapting federal law to accommodate an entirely new technology and asset class that the existing regulatory structure does not recognize, this bipartisan legislation will spur innovation and startup activity.”