Tom Emmer and Ritchie Torres bring back alliance: influence on the classification of crypto developers as transmission of money

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Tom Emmer und Ritchie Torres führen entscheidende Gesetzgebung zur Regulierung von Krypto-Entwicklern ein In der Welt der Kryptowährungen und digitalen Finanzen spielen rechtliche Rahmenbedingungen eine zentrale Rolle. Tom Emmer, ein prominenter US-Kongressabgeordneter, und Ritchie Torres haben eine wichtige Gesetzesinitiative erneut ins Leben gerufen. Ziel dieser Gesetzgebung ist es, Krypto-Entwickler von der Einstufung als Geldüberweiser auszunehmen. …
Tom Emmer and Ritchie Torres lead decisive legislation to regulate crypto developers in the world of cryptocurrencies and digital finances, legal framework play a central role. Tom Emmer, a prominent US congress member, and Ritchie Torres have launched an important legislative initiative again. The aim of this legislation is to exclude crypto developers from the classification as a money transfers. ... (Symbolbild/KNAT)

Tom Emmer and Ritchie Torres make decisive legislation to regulate crypto developers

In the world of cryptocurrencies and digital finances, legal framework plays a central role. Tom Emmer, a prominent US congress member, and Ritchie Torres have launched an important legislative initiative again. The aim of this legislation is to exclude crypto developers from the classification as a money transfers.

The proposed legislation could have a significant impact on the crypto industry. The status as a gain in money brings with it numerous regulatory obligations, which can be a massive hurdle, especially for start-ups and small developers. Through the redefinition of the criteria that are considered to be a money oversee for classification, Emmer and Torres want to create a cheaper environment for innovations in the field of digital currencies.

This initiative comes at a time when the regulation of cryptocurrencies is discussed worldwide. With the clarification that developers of crypto technologies are not automatically imposed on the same requirements as traditional money transitors, the law could help promote the growth of the sector and attract investments.

Due to the new regulation, crypto developers could be able to develop their products and services with less legal hurdles, which could ultimately promote the development of new technologies and business models in the field of digital financing.

Overall, the initiative of Tom Emmer and Ritchie Torres shows a strong commitment to promoting innovations in the crypto industry and the digital economy. The coming months will show how this legislation will affect the framework conditions for crypto developers and how the market reacts to it.