{"id":29148,"date":"2022-06-07T08:36:24","date_gmt":"2022-06-07T12:36:24","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=29148"},"modified":"2024-07-28T07:37:19","modified_gmt":"2024-07-28T11:37:19","slug":"new-u-s-crypto-bill-reveals-phase-of-crackdown-restrictions-on-daos","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/new-u-s-crypto-bill-reveals-phase-of-crackdown-restrictions-on-daos\/","title":{"rendered":"New U.S. Crypto Bill Reveals Phase Of Crackdown, Restrictions For DAOs"},"content":{"rendered":"\n<p>The leaked new U.S. bill on crypto reveals restrictions on <a href=\"https:\/\/coinscreed.com\/staging\/decentralized-autonomous-organization-dao-explained.html\">DAOs<\/a> new regulations for exchanges and a new phase of crackdown on crypto<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"880\" height=\"400\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-49.png\" alt=\"New U.S. Crypto Bill Reveals Phase Of Crackdown, Restrictions On DAOs \" class=\"wp-image-29153\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-49.png 880w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-49-300x136.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-49-768x349.png 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-49-150x68.png 150w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-49-750x341.png 750w\" sizes=\"(max-width: 880px) 100vw, 880px\" \/><figcaption>New U.S. Crypto Bill Reveals Phase Of Crackdown, Restrictions On DAOs<\/figcaption><\/figure>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\"><ul><li><a href=\"#h-regulation-for-daos-uncertainty-for-defi\" >Regulation for DAOs, uncertainty for DeFi<\/a><\/li><li><a href=\"#h-new-u-s-crypto-bill-to-give-regulators-more-control\" >New U.S. Crypto Bill To Give Regulators More Control<\/a><\/li><\/nav><\/ul><\/div>\n\n\n\n<p>After reviewing the document, seasoned cryptocurrency analyst Adam Cochran, founder of Cinneamhain Ventures and contributor to Yearn.Finance, said it appears to be a draft of an upcoming US bill on digital assets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-regulation-for-daos-uncertainty-for-defi\">Regulation for DAOs, uncertainty for DeFi<\/h2>\n\n\n\n<p>Mr. Cochran took to Twitter to discuss what the new restrictions will mean for the cryptocurrency industry. To begin with, it mandates that all decentralized independent entities register or become individually taxed.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-twitter\"><blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">1\/12<br><br>Wow, so first read some good stuff that moves us forward, but a lot of rough stuff.<br><br>Overall this gives US crypto clarity but it will have a huge cost and growing pains.<br><br>Here&#39;s what I noticed in the first read. <a href=\"https:\/\/t.co\/Cb1TM0DVJs\" target=\"_blank\">https:\/\/t.co\/Cb1TM0DVJs<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a><\/p>&mdash; Adam Cochran (adamscochran.eth) (@adamscochran) <a href=\"https:\/\/twitter.com\/adamscochran\/status\/1533993929196060672?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">June 7, 2022<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<\/div><\/figure>\n\n\n\n<p>In addition, many assets would be regulated as commodities by the CFTC. Every platform that facilitates the conversion of assets will be regulated as a cryptocurrency exchange.<\/p>\n\n\n\n<p>The status of AMM-powered protocols, noncustodial exchanges, and other <a href=\"https:\/\/coinscreed.com\/staging\/tron-becomes-the-third-largest-defi-blockchain.html\">DeFi <\/a>protocols is yet unknown in this regard. It will be considerably more difficult for them to maintain their anonymity.<\/p>\n\n\n\n<p>The general level of regulatory scrutiny rises, which will increase compliance expenses on the one hand but will also put an end to insider trading and listing fraud on the other.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-u-s-crypto-bill-to-give-regulators-more-control\">New U.S. Crypto Bill To Give Regulators More Control<\/h2>\n\n\n\n<p>In terms of requirements and penalties, the proposed bill will greatly increase regulators' ability to control and regulate market participants' activities.<\/p>\n\n\n\n<p>Depositary institutions will be able to create their own<a href=\"https:\/\/coinscreed.com\/staging\/uk-proposes-safeguards-to-protect-stablecoins-from-future-loss.html\"> stablecoins<\/a>, and any changes to a crypto product's coding will be subject to changes in the Terms of Service.<\/p>\n\n\n\n<p>Overall, the initiative is a significant step forward in regulatory clarity. It would, however, make the crypto scene more dominated by whales:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><em>If it passed in this form its good *LONG* term for big entities, super painful near term for 99% of crypto.<\/em><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The leaked new U.S. bill on crypto reveals restrictions on DAOs new regulations for exchanges and a new phase of crackdown on crypto After reviewing the document, seasoned cryptocurrency analyst Adam Cochran, founder of Cinneamhain Ventures and contributor to Yearn.Finance, said it appears to be a draft of an upcoming US bill on digital assets. [&hellip;]<\/p>\n","protected":false},"author":29,"featured_media":29153,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[6189,6030,5643],"class_list":["post-29148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","tag-crypto-bill-2","tag-dao-2","tag-defi-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-49.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=29148"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29148\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/29153"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=29148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=29148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=29148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}