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U.S .. Rep. Tom Emmer (R-MN) is planning to introduce three bills to support blockchain technology and cryptocurrencies, according to a press release published on September 21st.
The three outgoing invoices are titled "Resolution that supports digital currency and blockchain technology" "The" Blockchain Regulatory Certainty Act "and the" Safe Harbor for Taxpayers with Forked Assets Act "
The legislation focuses on support and development of blockchain technology, as well as the creation of a safe haven for taxpayers with "bifurcated" digital resources.
Invoices would require the federal government to provide a "simple legal environment" and limit fines against individuals reporting "bifurcated" digital resources until the Internal Revenue Service (IRS) provides a formal guide on appropriate reporting means According to Emmer, "taxpayers can only abide by the law when the law is clear." he also commented on the initiative:
"The United States should prioritize the acceleration of the development of blockchain technology and create a environment that allows the American private sector to drive innovation and further growth, which is why I am introducing these laws. "
In addition, Emmer assumed the position of co-chairman of the Congressional Blockchain Caucus, an industry platform and government collaboration to examine the implications of blockchain and digital currencies. , "the Caucus believes in a non-binding regulatory approach to allow this technology to evolve in the same way as the Internet;
At the beginning of this week, US lawmakers asked the IRS to issue clear and "complete" encryption guidelines. The legislators argue that while the IRS proactively continued to remind tax payers of sanctions for non-compliance with its guidelines, its failure to introduce a more robust fiscal framework "severely impedes taxpayers' ability" to fulfill their obligations.
week, Cointelegraph reported that the American National Standards Institute is going to discuss blockchain and Intelligence Artificial Intelligence (AI) in the next upcoming legal numbers and member forums. Participants will focus on legal and ethical issues and will explore concrete applications of blockchain and AI technology.
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