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A bill classifying cryptocurrencies as commodities in the US is ready to be submitted
Cynthia Lummis, known as a crypto industry advocate in the US Senate, said in a statement on the subject that the bill has robust rules that protect investors and is the most comprehensive proposal to properly handle crypto assets.
Among the main articles of the bill, besides the evaluation of assets as commodities, crypto exchanges are obliged to keep assets on a third party. It is also expected to take strict measures to ensure that crypto platforms do not mix client assets with their own funds.
Looking at the general outlines of the bill, it can be seen that important conclusions were drawn from the collapse of FTX and Alameda Research. According to unconfirmed sources, the crypto bill could be submitted to the US Senate today. Although the proposed bill is seen as a groundbreaking development for the cryptocurrency markets in the US, uncertainty remains as to whether the bill will pass in the bipartisan Senate. #ContentStar#