Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnAISquareMore
Utah Republican Senator: Cryptocurrency is used as a medium of exchange, not a commodity

Utah Republican Senator: Cryptocurrency is used as a medium of exchange, not a commodity

CointimeCointime2024/10/15 06:39
By:Cointime

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."

0
0

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.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

CandyBomb x DEBIT: Trade to share 45,000 USDT

Bitget Announcement2026/09/01 13:00

Bitget Will Support the BounceBit (BB) Contract Swap

Bitget Announcement2026/09/01 08:00

Hold USDGO for dual perks, earn up to 30%+ APR!

Bitget Announcement2026/09/01 02:00