Three legislative acts will be presented to Congress by the co-chairman of the Congressional Blockchain Caucus. Their intent is to simplify the growing industry by introducing concise and transparent guidelines for companies and investors, while at the same time providing a safe haven for taxpayers who use cryptocurrencies.
The accelerator of the development of Blockchain Tech
Congressman Tom Emmer (R-MN) announced on September 21 that he will present three bills to support blockchain technology and digital currencies.
In an official version, the Congressman said:
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 on the world. innovation and further growth, which is why I am introducing these invoices.
Emmers also stated that legislators should work to embrace emerging technologies as well as provide a regulatory framework that allows them to move further.
Emmer's position is in line with the general legislative approach that the CFTC is urging. As the Bitcoinist reported on September 15, the President of the Commission J. Christopher Giancarlo said:
I am supporting the same approach to cryptocurrencies and all that has to do with this new digital revolution of the markets, and currencies, and asset classes.
The first bill that Congress will push is called "Blockchain Regulatory Certainty Act" and will create a safe haven from state licensing requirements for non-custodial entities in the field. In other words, intermediaries that facilitate cryptocurrency operations without taking over consumer funds will not have to register as a money transmitter.
The next bill is called "Safe Harbor for Taxpayers with the Forces Law" and attempts to provide protection against penalties for those taxpayers who benefit from a forked cryptocurrency.
Finally, the Emmer will introduce a resolution that provides general support to the cryptocurrency industry and its further development within the country.
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