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The US Congressman issues bills to encourage the development of Blockchain

U.S .. Tom Emmer's representative wants to support the development and use of blockchain and cryptocurrency technology.

To this end, the legislature announced a trio of bills focused on the blockchain on Friday, saying it intends to present them to Congress in the coming weeks. The bills address a number of issues related to the blockchain space, including development taxes, miners and cryptocurrency.

The bills are intended to provide support to the nascent industry, a press release said.

In a statement, Emmer said that "the United States should prioritize the acceleration of the development of blockchain technology and create an environment that allows the American private sector to drive innovation and innovation. further growth ".

He added:

"Lawmakers should embrace emerging technologies and provide a clear regulatory framework that allows them to flourish in [U.S.]."

Invoices will specifically specify the regulatory approach to space, essentially providing developers and users with some room for maneuver in construction, extraction or in cryptocurrency transactions.

The first bill "expresses support for industry and its development" in the United States by supporting "a light, coherent and simple legal environment".

The second draft law would ensure that cryptocurrency miners should not register as money transmitters, as they "never take control of consumer funds".

This legislation would also include multisignor portfolio providers.

a "safe haven" for taxpayers who have cryptocurrencies arising from a network hard fork. The law would prevent the Internal Revenue Service (IRS) from imposing fines on taxpayers who attempt to report gains from these tokens, at least until the IRS provides clear guidance on how taxpayers can report such gains.

On the same day he and his colleague Representative Bill Foster were appointed co-chairmen of the Congressional Blockchain Caucus, a group of legislators focused on the development of blockchain technology through legislation in the lower house of the US government.

"I am proud to join my colleagues to lead the Congress so that policy makers and industry can work together to deliver on this promise and unlock its economic potential in the United States and around the world," he said. Foster said in a statement

Tom Emmer image via Al Mueller / Shutterstock [19659015] The leader in the blockchain news, CoinDesk is a source of information that fights for the highest journalistic standards and sticks to a rigid set of editorial policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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