The bipartisan bill was initially introduced by Sens.
CRYPTO CURRENCY RATES SOFTWARE
“Personally, I do not believe the Bill should be passed without respecting basic software freedoms, and that it will be unconstitutional if it requires licensure/registration of mere software-I encourage others to review the draft and make their opinions known,” Shapiro tweeted. The general counsel went on to say that the origin of the new language is unknown, and its inclusion is still a matter of significant debate. Shapiro highlighted one section of the new draft which amended the meaning of a “digital commodity trading facility” to exclude persons who develop or publish software, commenting that it “could be a boon” to DeFi and crypto.
The draft bill was made public by Gabriel Shapiro, general counsel for Delphi Labs, who suggested he was doing so because he believes in “transparency and open discussion of the future of cryptolaw.”Ĭrypto representatives widely panned a previous version of the bill for using too broad of a definition for a “digital commodity platform,” which “could be interpreted as a ban on decentralized finance (DeFi).” (Kitco News) - Regulation discussions are heating up as a draft copy of the Digital Commodities Consumer Protection Act (DCCPA) bill has been making the rounds online, with some debating whether the new changes will benefit or harm the decentralized finance (DeFi) sector. Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions.
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