Cryptocurrencies are on the verge of great change. The main problem they encountered in 2018 was active regulation and taxation.
The superprofits from cryptocurrency transactions in 2017 made the price of Bitcoin and other coins fall in 2018. Until the tax period in the United States and other countries hadn’t come to its end, their price fluctuated at the minimum level.
Strong regulation of the crypto sphere didn’t contribute to economic growth. After a series of notorious scam scandals many startups came in sight of SEC. Their tokens were assessed as belonging to the category of securities, and the conduction of ICO was prohibited.
In order not to become the object of close attention, many startups simply refused US citizens to participate in token sales. This hindered business and prevented American citizens from participating in profitable projects on legal grounds.
This is what has happened to ATB Coin project, for example. Despite its clear advantages, the ban of the token sale in the US, which the organizers did to reinsure, narrowed the target audience. And there are plenty of such examples.
Fortunately, in early 2019 there was a clear thaw on this issue. A bill was passed in the state of Colorado, the purpose of which is to remove cryptocurrency tokens from securities laws.
The “Colorado Digital Token Act” was submitted last Friday by a Democrat and a Republican. It is written there in black and white:
“Any tokens that have customer value and are not intended for investment, hype and speculation should be outside the jurisdiction of the securities law.”
According to the authors of the bill, such a step will eliminate regulatory uncertainty and open up broad prospects for ICO and already working startups.
What is the use of the bill?
All projects that today are holding back their activities, being afraid of strict regulation, will be able to breathe easier and launch their activities to the fullest.
Business will be able to receive an influx of new funds for its development and expansion. Many local companies will have the opportunity to expand the sphere of their influence and open new jobs. After all, if the bill is enforced, Colorado can become a true island of Freedom in the vast sea of SEC regulation.
Companies creating applications and projects for the “Web 3.0” category will flow here. They will be able to get ample opportunities simply by ensuring the 180-day availability of a real consumer goal from the moment the tokens are issued or sold. It’s about access to products, services, or content.
Let’s recall that a similar “Token Taxonomy Act” was passed in the US House of Representatives. If bills are adopted, this will be a real breakthrough for the cryptocurrency sphere. Projects such as ATB Coin will be able to gain wide powers.
Investments in them will not be considered illegal in the United States. Any companies – brokers and dealers – will be able to actively use them for their own purposes, including creating platforms for the resale of digital tokens.
What will the adoption of the law bring for projects like ATB Coin?
Lack of restrictions will help to fully realize the goals. Due to this, the advantages of projects will become even more obvious. Taking ATB as an example, users get:
● Transaction speed (up to a million per second). This is more than VISA and BTC.
● High protection with two types of encryption: ECDSA and SHA-256.
● Absence of attack 51%. POS-mining eliminates the possibility of hacking the network.
● Minimal commission due to the absence of energy-consuming and costly POW mining.
● Support for SegWit, Lighting Network, Smart-contracts. These protocols accelerate the creation of blocks and conducting transactions.
If tokens are not the subject to securities laws, ATB coins will get a wider target audience. So the crypto sphere is in anticipation. Fingers crossed, friends!