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Tech & Sourcing @ Morgan Lewis

TECHNOLOGY, OUTSOURCING, AND COMMERCIAL TRANSACTIONS
NEWS FOR LAWYERS AND SOURCING PROFESSIONALS

A new Morgan Lewis Report, Bipartisan Proposal Attempts to Provide Solutions for Comprehensive Regulation of Digital Assets, analyzes the proposed Responsible Financial Innovation Act (RFIA) in the United States from several different angles, including with respect to issues such as key definitions in this emerging space, jurisdiction, ancillary assets (which are not fully decentralized), stablecoin issuance, taxes, disclosures, and money transmission. 

The bill is a bipartisan effort toward greater regulatory clarity, as digital assets continue to be explored and predicted and as governmental authorities continue to push for responsible development. Among other things, under the RFIA, the Commodity Futures Trading Commission is designated as the primary regulator of fungible digital assets that are not securities, including ancillary assets.

Read the full Report >>