Unchained Rep. Warren Davidson: 'I Think Bitcoin Is a Great Store of Value' - Ep.176
Jun 9, 2020
Warren Davidson, a U.S. House Representative from Ohio with a military background and MBA, dives into the evolving world of crypto legislation. He shares his belief in Bitcoin as a solid store of value and outlines his Token Taxonomy Act aimed at clarifying regulations for digital tokens. Davidson discusses how COVID-19 and U.S. fiscal policies could influence crypto's future, and he addresses the competitive landscape of digital currencies, particularly concerning China's initiatives. He emphasizes the need for bipartisan support to push forward crypto-friendly laws.
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Bitcoin Interest
- Rep. Warren Davidson's interest in Bitcoin stemmed from his manufacturing background and experience with inefficient international payments.
- This led him to explore digital currencies like DigiCash before Bitcoin emerged.
Token Taxonomy Act
- The Token Taxonomy Act aims to provide regulatory clarity for token issuers and foster innovation within the United States.
- It seeks to exclude certain digital tokens from being classified as securities, facilitating their functionality.
Token Security Test
- The Token Taxonomy Act proposes a four-part test to determine if a digital token isn't a security.
- The test considers factors such as the token's creation, underlying technology, central authority influence, and representation.