The US politicians are all set to welcome new regulations in cryptocurrencies through the bill, which is called the Cryptocurrency Act of 2020. The purpose of the bill is to simplify the facts related to which Federal agencies should regulate cryptocurrencies and to notify the public of any certifications or Federal licenses, or registrations required to trade in cryptocurrencies.
To approve this proposal of bringing in this Act, a round of voting sessions will be held in the first few weeks of the coming new year 2020. If this proposal is approved by the consent of the maximum votes, then the roles of SEC, FinCEN and CFTC will become more prominent. This act is also expected to eliminate the inequalities that exist in the role of various stablecoin.
However, a global cryptocurrency regulatory framework is not that easy to be implemented, so the sooner the voting session is complete, the quicker will be its implementation.
