Token Taxonomy Act: Crypto Bill Heads to U.S. Congress Again

A draft bill has been reintroduced to the U.S. Congress that, if passed, would bring direct federal guidance on cryptocurrency tokens in America. Previously, patchwork state rules and competing federal watchdogs have made crypto’s status in the nation ambiguous.

That draft bill, the Token Taxonomy Act, was first put forth in the House of Representatives in December 2018 as a means to “achieve a […] win for America’s economy and for American leadership in this innovative space,” the act’s cosponsor Rep. Warren Davidson (R-OH) said at the time.

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