Jake Chervinsky Says Bill Exempting Crypto from Securities Laws Will Take Time to be Approved

  • The crypto-related attorney Jake Chervinsky released a tweet in which he says that the Token Taxonomy Act will take months or years to be approved.
  • This bill exempts cryptocurrencies and Initial Coin Offerings (ICOs) from U.S. securities laws.
  • The legislation was approved by the Italian Senate Committee and it would allow companies and firms to operate in a more regulated market with clear rules.
  • Switzerland and Malta are two of the countries with the most flexible and clear regulations related to virtual currencies, digital assets and distributed ledger technology (DLT).

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