“A spokesman for Davidson confirmed that the Ohio Republican plans to introduce a bill that would allow ICOs to sidestep securities law, including at the state level, and eliminate the SEC’s jurisdiction over the industry by treating the currencies as products, rather than securities,” according to the report.
The Examiner noted that even if his intentions are genuine, and exciting for the crypto community, it’s less likely that the “incoming Democratic majority will get joyfully on board with any form, of crypto deregulation strategy, though the Congressional Blockchain Caucus has historically featured a bipartisan membership,” notes CCN.
Davidson has been leading the efforts to bring more clarity and certainty to the US ICO market. For instance, back in May, he revealed that he would lead legislation on crypto in committee.
He also said that he would host a roundtable with stakeholders before introducing his bill during the fall.