monster thread on cryptographic property rights
++, apex property combines layer0 of judicial enforcement with layer1 of smart settlement and immutable records
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The Digital Commodity Exchange Act (DCEA), seeks to create a federal definition of “digital commodity exchanges” and charges the CFTC with authority to register and oversee them, similar to the requirements in commodity derivatives markets.
2. Existing Proposals Can Adapt
The Securities Clarity Act (SCA) proposes a new term, “investment contract asset,” to make such assets separate and distinct from any securities offerings.
The SEC is making it up as it goes. Using “strategic ambiguity” and enforcement—or the threat of it— to advance its own jurisdiction rather than collaborate with other regulators, policymakers and market participants. When will the tactics stop?
Ripple believes that each of the above proposals will provide regulatory clarity – fostering innovation and industry growth within the United States.
This can be done while maintaining the strong consumer and investor protection America is known for.
@Ripple's proposal for a clear crypto regulatory framework consists of a three-pronged approach:
1. Public/Private Collaboration
2. Existing Proposals Can Adapt to Regulate Cryptocurrencies
3. Crypto Innovation Sandboxes Should Be Fostered & Encouraged
https://t.co/kFXqxhQ3e0
3. Crypto Innovation Should Be Encouraged
U.S. financial regulators should encourage a “safe harbor” regime where developers are allowed to launch their products for a period of time without needing to comply with federal securities laws, provided certain conditions are met.