Crypto bill from the US, LEAKED!!!! (some heads will roll)

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Well now that you click I want to say thank you for engaging my good friend! and now to the news, well, it seems the US bill authored by Senators Cynthia Lummis and Kirsten Gillibrand crypto has been leaked. This bill states that if passed the Commodity Futures Trading Commission (CFTC) will have dibs on the crypto market, meaning, they are the ones who will be responding regarding spot markets and the Securities and Exchange Commission (SEC) will be the "eye in the sky" over all crypto. Also the bill states that all DAO's, exchanges and stablecoins will have to register themselves. This bill will clarify the universe of digital tokens that will fall under the SEC’s jurisdiction. a spokesperson for senator Lummis stated. This will restrict the SEC not expand it, Cryptoverse will have more regulations than banks or financial institutions that is for sure, and "Not a lot of room for defi, and none for anons/non-reg DAOs,” Cinneamhain Ventures’ Adam Cochran tweeted. here's his twitter handle: @adamscochran. 

So its going to be a bumpy ride for crypto, lots of growing pains but I believe it will be for the better in this new world, also its a perfect timing for this since we are in a slow, bear market. Nothing but up after this and this will also protect the US citizens from rug & pull movements. But as Ran says: Always DYOR on every trade/investment/project you will do. Be great and be awesome my friends!!!

By Parth

Source: 

https://www.cryptonary.com/us-crypto-bill-leaked-heres-all-you-need-to-know/

What do you think of this? will this help crypto? or how will it affect it?

Your friendly cryptor, AndyHuerta.