Proposed Crypto Bill highlights:
-Gives CFTC full power
-No tax for purchases under $200
-Asset must disclose utility = NO MORE FAKEY SCAMMY ONES WILL BE ALLOWED (may take time to implement though)
-Legal protection against exchanges with custody of assets = claimability of assets for when exchanges go through class action/bankruptcy
-Min tax reporting reqs
-“Sandbox” like pendulum, ISO20022 = allows WH flexibility to maneuver in “testing” before everything finalized
-Stablecoins 100% backed by assets = Bretton Woods 3, demise of institutional banks/decentralized banking
-Disclosure of asset sales = NO MORE MONEY LAUNDERING
