The big U.S. crypto bill is on the move. Here is what it means for everyday users

Source: CryptoNewsNet Original Title: The big U.S. crypto bill is on the move. Here is what it means for everyday users Original Link: If U.S. laws finally define how federal regulators can touch digital assets, cryptocurrencies will be easier to manage, keep track of and transact in, and more investors will probably get involved, potentially increasing the worth of each token. But a lot has to happen before that’s true, and the work to get laws through Congress is at a messy crossroads.

Crypto enthusiasts have long seen themselves as cutting-edge investors, eager to challenge the system and pursue a stake in something outside the mainstream. But what lawmakers are working on now is meant to put crypto very much into the establishment. The distinctions between digital assets and traditional finance would become much narrower, and in some cases, vanish entirely.

Crypto platforms such as certain compliant exchanges and trading platforms would be registered with federal regulators, who will insist the businesses follow strict rules when handling your assets. Stablecoin issuers such as Circle and Tether would have to follow their own tight regulations akin to banking standards.

In the event of a sweeping new law, your crypto assets are likely to become significantly safer from financial disasters, though much more closely tracked and managed, and you’ll be more likely to get help from the government when you have disputes with businesses. If you’re among the narrower group that keeps your own custody and uses platforms without human management, your corner of the crypto sector would be subjected to more rules meant to head off criminals.