The cryptocurrencies and their regulation in the United States

cryptocurrencies bitcoin

In the United States so far, no federal law has been passed to create regulations on cryptocurrencies. Therefore, the agencies decide on the actions that serve as a guide to interpret the rules to be applied based on existing laws.


The National Securities and Exchange Commission (SEC) is responsible for determining the application of the current legislation for the commercialization of digital assets, including the Initial Offers of Currencies (ICO). In that sense, the agency mid-year listed ether as commodities or merchandise, like bitcoin, so its regulation is not related to the SEC, but with the National Commission of Operations with Futures and Raw Materials (CFTC) .

In relation to tokens, the SEC decided to use the Howey test to determine whether or not securities are treated. This means that the SEC regulates ICOs in regions where cryptocurrencies are considered a security, and the CFTC does so where digital currencies are related to futures, options and derivative contracts. For tax purposes, the capital gains tax is collected by the Internal Revenue Service.

Cryptocurrencies Regulations United States


On the other hand The activities related to cryptocurrencies are included in the legislation against money laundering and financing of terrorism, since the Financial Crimes Control Network (FinCEN) orders that the Banking Secrecy Act be applied to businesses involved in activities with cryptocurrencies, including financial markets. This means that all companies that offer services with cryptocurrencies must collect information about their customers and confirm their identities.

Given this regulatory context that applies to the ecosystem laws in force for years, last September some 80 Wall Street investors, delegates from cryptoactive companies, representatives of the Chamber of Commerce and a commission of the United States Congress, discussed the implementation of a regulation that allows them to continue to innovate and not be left behind in other countries, which already have modern regulatory frameworks that promote the expansion of the ecosystem.

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