Utah Republican Senator: Cryptocurrency is used as a medium of exchange, not a commodity
At the Permissionless III cryptocurrency conference held in Salt Lake City, Utah Republican Senator Mike Lee outlined three potential threats to the emerging cryptocurrency industry: (1) the creation of central bank digital currencies, (2) patchwork regulation by individual states, and (3) strict federal regulation. "Cryptocurrencies are not securities. Cryptocurrencies are not commodities. Cryptocurrencies are used as a medium of exchange," Lee explained. "I don't even think we should be taxing capital gains on the transfer of cryptocurrencies."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget donates HK$12 million to support fire rescue and reconstruction efforts in Tai Po, Hong Kong
Bitget Spot Margin Announcement on Suspension of ELX/USDT Margin Trading Services
Enjoy perks for new grid traders and receive dual rewards totaling 150 USDT
Bitget Spot Margin Announcement on Suspension of BEAM/USDT, ZEREBRO/USDT, AVAIL/USDT, HIPPO/USDT, ORBS/USDT Margin Trading Services
