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Token Taxonomy Act of 2019: The Digital Token Exclusion

A Brief Summary of §§ 2(a) & 2(b) of H.R. 2411

Background

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Looks like Bill is taking a little trip to Washington, D.C. — let’s hope he makes it safely!

Scope of this Article


Definition of a Digital Token


Definition of a Digital Unit

Definition of a Security


Conclusion

A computer-readable representation of current or future economic, proprietary, or access rights…

created in a decentralized manner…

recorded to an immutable distributed ledger…

transferable peer-to-peer…

that does not represent a financial interest in a company or partnership…

is NOT a security.


A BILL to amend the Securities Act of 1933 …



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ValueTokenized

Facilitating creation of internet of value for the…

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