• Mon, 22 Jul 2019, 08:44 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

US Congressman to introduce three bills to support blockchain and crypto development

Mon, 24 Sep 2018, 11:40 am UTC

US Congressman Tom Emmer last week announced that he will introduce three bills to support blockchain technology and cryptocurrencies.

The bills are aimed at supporting this emerging industry and providing “clarity to entities that never take control of consumer funds, and establishes a safe harbor for taxpayers with “forked” digital assets.”

The first bill expresses support for digital currencies and blockchain technology. It calls upon the U.S. government to prioritize accelerating the development of blockchain technology; create a conducive environment for blockchain innovation; develop a coordinated framework to support digital currencies and blockchain technology; avoid undue restrictions on blockchain networks; and support a predictable, light touch, consistent and simple legal environment for services facilitated by blockchain networks.

The second bill, the “Blockchain Regulatory Certainty Act,” aims to provide a safe harbor from licensing and registration for certain non-controlling blockchain developers and providers of blockchain services.

The third bill, “Safe Harbor for Tax payers with Forked Assets Act of 2018,” aims to provide temporary safe harbor for the tax treatment of hard forks of convertible virtual currency in the absence of administrative guidance.

Congressman Emmer has been recently announced as the co-chair of the Congressional Blockchain Caucus – a bi-partisan group focused on blockchain technology.

“The United States should prioritize accelerating the development of blockchain technology and create an environment that enables the American private sector to lead on innovation and further growth, which is why I am introducing these bills,” said Congressman Emmer. “Legislators should be embracing emerging technologies and providing a clear regulatory system that allows them to flourish in the United States.”

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,329.30 (-1.68%)
  • Ethereum (ETH) $217.60 (-2.09%)
  • XRP (XRP) $0.321800 (-1.95%)
  • Litecoin (LTC) $95.19 (-3.19%)
  • Bitcoin Cash (BCH) $310.29 (-2.37%)
  • Bitcoin (BTC) $10,329.30 (-1.68%)
Jul 22, 2019 (Monday)
12:20
Crypto Technicals: IOT/USD recovery fails shy of 200-DMA, downside resumption likely
12:20
Former Token Foundry head begins process to sue Joseph Lubin for $13M
11:39
Blockchain firm R3 pushes for more Corda sales with new hire
11:26
South Korean citizen unaffiliated to Samsung files trademark application for 'Samsung Coin'
10:46
Former Russian crypto executive arrested in Italy
09:19
Blockchain startup Diana to launch 'lunar registry' to divide and tokenize the moon
08:39
Crypto Technicals: ETC/USD confirms 'Golden Cross' on hourly charts, eyes 21-EMA at 6.722
07:46
Iran finalizes power tariff scheme for crypto miners but no license for importing mining equipment yet
07:42
Crypto firm FairX closes digital doors due to lack of funding
06:34
Thailand shows less hostility towards Libra compared to other countries
06:23
European Central Bank official says calm down about stablecoin
05:42
No official ban on cryptocurrency yet, Indian Minister clarifies
05:16
Electric firm E.ON applies patent for blockchain-based data collector device
05:02
Accounting giant KPMG partners with Microsoft, TOMIA, and R3 for blockchain-based telecom solutions
04:06
Fidelity Digital Assets applies for trust license in New York: Report
Jul 19, 2019 (Friday)
11:17
Crypto Technicals: XRP/USD grinds lower along 200H SMA, break below 5-DMA to see further weakness
11:12
Binance Jersey announces listing of GBP-backed stablecoin ‘BGBP’
10:32
Rape and sexual harassment case against bitcoin developer blows up
10:15
New Jersey accuses blockchain firm Pocketinns of selling $410K unregistered securities
09:59
Crypto Technicals: LTC/USD struggles at 110-EMA, bias bearish
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft