To report it is Forbes, with an article of last Thursday, according to what is learned, therefore, Paul Gosar (member of the congress elected by Arizona) has presented a new bill that aims to bring clarity in the regulation of cryptocurrencies ; I often found myself commenting on the statements or proposals of politicians (not only Americans) criticizing more or less harshly measures that seemed written by people who showed a profound ignorance of the blockchain universe, but it is not the case of Paul Gosar who, indeed , has presented a bill that seems to me to be very intelligent. It is called the cryptocurrency act, it will be discussed starting next year and, if it becomes law, it would introduce a series of definitions that are fundamental for bringing regulatory clarity to the sector; first of all Gosar introduces three distinct definitions to distinguish as many different types of cryptographic assets. This is a very interesting aspect because precisely on the basis of these definitions the regulation of the different currencies could be entrusted to different institutions; therefore, according to Gosar, it is necessary to distinguish between crypto-commodities, crypto-currencies and crypto-securities which would therefore be three different classes of cryptographic assets whose regulation should follow different paths. Gosar therefore establishes, for each of these different assets, the following definitions:

• Crypto-commodities: these are defined as economic goods or services, stored on a blockchain, with fungibility and that the market treats regardless of who produced it
• Crypto-currencies: they are defined as representations of US currency or derivatives that rest on a blockchain.
• Crypto-securities: finally, all debt, equity and derivative instruments on a blockchain are defined as such

Clearly in the definition of crypto-commodities all decentralized currencies would fall, such as bitcoin, while in the crypto-currencies the stablecoins would fall instead and finally in crypto-securities would fall all those currencies, such as for example GRAM of telegram, which are issued directly from companies to finance themselves. In this way it will therefore be possible to entrust the regulation of each of these classes of cryptographic assets to specific entities; According to Gosar, therefore, the Commodity Futures Trading Commission (CFTC) would obviously have the task of regulating crypto-commodities, while the Securities and Exchange Commission (SEC) would be entrusted with the task of regulating crypto-securities while the network for the application financial crimes (FinCEN) would leave the regulation of stablecoins (and here I don't understand why entrust FinCEN with this task instead of creating an ad hoc institution). The bill proposed by Gosar is nothing epochal, does not in itself generate regulatory clarity but lays the foundations for such clarity to be made. Also interesting is the fragmentation of the different currencies into multiple cryptographic assets, a distinction that is in my opinion necessary and that represents a real innovation compared to the typical approach with which attempts have been made, to date, to regulate the market. We do not know if this design of reading will be able to pass, but there is no doubt that Gosar has moved in the right direction, showing that he knows the market he has set himself to regulate; to conclude, this bill could also represent a point of reference for other countries, precisely because it does not enter into the merits of how the different cryptographic assets should be regulated, but provides the basic definitions without which regulating the market would be substantially impossible.