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posted 7 years ago
With no doubt crowdsale is one of the
most discussed topics in the world today. Of course, this is a great
alternative to venture funds. Therefore, this way of investing will necessarily
be considered at the legislative level.
In order to register crypto exchange in America, it is
necessary to comply with a number of conditions, where the released token can
be considered as a security or currency. Legal regulation of the cryptocurrency
in the US depends on both federal legislation and the laws of each state
separately.
Registration of crypto exchange at the federal level
implies a certain order. One of these stages is to register as an operator for
the transfer of funds to FinCEN (Financial Crimes Network). This requirement is
common in many states and applies not only to exchanges and companies that
provide services for exchanging fiat money and cryptocurrency, but also to
those organizations whose activities involve providing cryptocurrency wallets
to their investors, which subsequently entails, transfer, exchange or sale of
digital currency. Also, at the level of a state, a license for cryptocurrency
may be required for further activities.
The USA SEC (Securities and Exchange Commission) may
approve crowdsdale, but it must be regulated by the Securities Exchange Act of
1934. Their powers are already known far beyond the United States.
Those organizations that are engaged in the mining of
cryptocurrency, and also participate in the development of this software, are
not subject to registration.
Any operations with the cryptocurrency,
as a property, will be taxed from the beginning of 2018. The objects of
taxation may include:
·
wages paid in the cryptocurrency;
·
payments for services of a counterparty under a civil law
contract in the cryptocurrency;
·
any information on payments in the cryptocurrency must be
submitted to the appropriate authorities. A revenue or other taxable objects
that were received in the cryptocurrency, should be declared.
Discussions on cryptocurrencies
(Bitcoin) at the state’s highest level began in 2012, due to the FBI’s concern
to use bitcoin for illegal activities. Later, in 2013, the FRS (Federal Reserve
System) made two research reports on the topic of Bitcoin.
In America, California was one of the first states,
that allowed operations with a cryptocurrency on a legal level.
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