USA's Much-Anticipated Crypto Law Leaked

Twitter user Bot_slam shared a 600-page draft of the US cryptocurrency law.

USA's Much-Anticipated Crypto Law Leaked. The sharing of the account with the username bot_slam on Twitter created an earthquake in the cryptocurrency world. In the post made last night, there was a 600-page draft of the highly anticipated cryptocurrency law of the USA. According to the documents in question, the US government is preparing to impose an obligation on all decentralized autonomous organizations (DAOs) to be a US-registered organization. In case of non-registration, DAOs are planned to be subject to tax. [embed]https://twitter.com/bot_slam/status/1533973084889403392?s=20&t=ev4pd8Krg298r_Q0EVjplg[/embed] In addition, there is a clause in the law that the compliance costs of cryptocurrency exchanges should be increased, and it is tried to guarantee that users' money will be paid back in case the exchanges go bankrupt. On the other hand, in the bill, it was emphasized that many assets were qualified as commodities by the US Commodity Futures Trading Commission, and it was stated that the security law had clearly changed. In the draft, your digital asset; It was stated that if it has a basis such as debt, equity or profit income, it would not need to be called a commodity. According to documents leaked by 'bot_slam', cryptocurrency exchanges will pay the government on a regular basis if the bill passes. According to the important names of the cryptocurrency markets, this necessity will cause the transaction fee to increase. In addition, it was stated that they aimed to unify the "money transfer law" between the states in the USA, in the draft, which stated that many regulators would be authorized to conduct research and make recommendations in new areas in the cryptocurrency market.