In the US state of Idaho, bitcoin and other cryptocurrencies A draft law has been proposed to consider digital assets, including digital assets, as personal property.
With the draft law, the legal status of digital assets will also be determined.
“Bitcoin and Other Cryptocurrencies Are Personal Property, Not Securities”
The summary content of the bill in question is as follows:
Digital assets are personal property and are classified as:
- Digital assets are intangible personal property.
- Digital securities are personal and investment property.
- Virtual currencies are intangible personal property and not securities.
- Digital assets can be traded like any other personal property in the state of Idaho and are subject to the laws that govern other personal property.
- Buyers and sellers of digital assets; It can be identified in any way, including name, ID number, cryptocurrency private key and account number.
If the draft law is implemented, it will be effective as of July 1, 2022.
The increase in the number of draft laws regarding cryptocurrencies in the USA recently started to attract attention.
The state of Missouri recently announced that it is preparing to take a similar step. In addition, some states, such as Texas, aim to make Bitcoin a legitimate payment method.
However, the issue of whether cryptocurrencies are securities in the USA is still not resolved.
In particular, cryptocurrencies released by a certain central company, such as XRP, are securities according to the US supervisory agency SEC.