#DigitalAssetBill

**📜 #DigitalAssetBill: 100-Word Breakdown**

🌐 *Purpose*: Legal clarity for crypto, NFTs, tokens.

⚖️ *Scope*: Regulate trading, taxation, security.

🔑 *Rights*: Own keys = own assets.

💼 **Key Rules**:

→ Exchanges/wallets need federal licenses.

→ AML/KYC mandatory.

→ Taxes: 1099-DA forms for gains >$600.

🛡️ **Protections**:

• Rug pulls, manipulation = illegal.

• Cold storage insurance required.

🏛️ **Enforcers**: SEC (tokens), CFTC (commodities), FinCEN (AML).

🌍 *Global*: Aligns with EU MiCA, targets foreign platforms.

🎉 *Supporters*: Institutions cheer clarity.

⚠️ *Critics*: Traders hate low tax thresholds; startups fear costs.

🚨 *Challenges*: Tech moves faster than laws.

🔮 *Future*: Institutional crypto adoption 📈 by 2030.

🗳️ **Act Now**: Submit comments by 12/1/24!