New safety and oversight rules for cryptocurrency and digital asset markets
The law introduces mandatory registration and oversight for cryptocurrency exchanges and brokers to protect everyday investors' money. Under the new rules, your digital assets must be held in special, secure accounts, and trading platforms are banned from using them without your explicit consent. A dedicated advocate office will also be created to help citizens resolve issues with the crypto market.
Key points
Crypto exchanges and brokers must register with the government and follow strict fair trading rules.
Your cryptocurrencies and funds must be kept separate from the exchange's assets, protecting them if the platform goes bankrupt.
Platforms are required to clearly disclose risks and the technology behind a cryptocurrency before you buy.
A new Office of the Digital Commodity Retail Advocate is established to help citizens with disputes against exchanges.
Software developers and digital wallet creators are exempt from heavy registration duties, provided they do not commit fraud.
Status:
Placed on Calendar
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens
(explained here).
Start recording it now.