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Renowned American crypto lawyer John Deaton has shared a list of five proposals aimed at fostering innovation in the crypto sector, enhancing user security, and ensuring market stability. Deaton emphasizes that forthcoming regulations could significantly contribute to the sector’s growth while reinforcing the United States’ role on a global scale.
Crypto Law Proposals
Among the proposals is the introduction of specific legal regulations regarding stablecoins, which could boost international money transfers and demand for U.S. Treasury bonds. This initiative aims to reduce delays and costs associated with money transfers.
Deaton argues that the U.S. Congress should clarify which tokens are classified as securities and which are commodities. This clarity would delineate the responsibilities of regulatory bodies and help eliminate uncertainty in the market.
Crypto Regulations
Another recommendation includes enforcing transparency and full reserves in crypto exchanges to prevent customer funds from being mixed with company funds. This rule is intended to mitigate risky practices and allow for the observation of funds on the blockchain.
John Deaton: “Establishing clear rules in crypto regulations will support innovation and enhance user safety.”
Furthermore, there are calls for the removal of capital gains tax on small-scale crypto transactions and enabling federal taxes to be paid with cryptocurrency, which would alleviate the tax burden. Deaton believes such measures would make the sector more flexible.
Additionally, the proposal to review or repeal the Accredited Investor Rule, which restricts early investment opportunities, stands out. This outdated rule is seen as a barrier that keeps many investors from participating in the market. Deaton stresses the need for intervention before the 2026 midterm elections.
The pending regulations also encompass the effects of currently debated bills. For instance, proposals related to stablecoin regulations, such as the GENIUS Act, are being evaluated to determine jurisdictional splits between the Federal Reserve and state authorities.
While past differences existed among U.S. regulatory agencies, the emerging trend of the SEC and CFTC working in harmony is viewed as a positive step toward reducing market uncertainty. These developments could pave the way for clearer and more comprehensive regulations in the crypto market.
