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The US Congress will consider 3 new draft laws on crypto currency and blocking



The newly elected co-chairman of the Congressional Blockchain Caucus cross-party group, Congressman Tom Emmer (Tom Emmer), presented three bills on supporting and developing blockbuster technology and digital media.

According to the official message, the bills focus on strengthening government support for the blockade space, clarifying the rules for companies providing money transfers, and developing a tax scheme for crypto-currencies .

In Emmer's statement, in particular, it says :

"The United States should make it a priority to accelerate the development of blockade technology and create an environment that will allow the US private sector to lead the innovation processes and ensure further growth."

According to Emmer, lawmakers should do more "by welcoming new technologies" and providing the legal and regulatory framework necessary for these technologies to become successful in the United States.

Three Bills

  • The first bill offers support for blocking technology and calls for an "island regulatory approach." The bill also highlights some of the advantages of the block and crypto currency.
  • The second bill focuses on the mining of crypto currency and specifies who should register as money transfer companies in the US. The bill defines the miners and providers of multi-signature cryptotices as subjects of block-technology, which do not require a license from companies providing money transfers to operate in the United States, since they do not control consumer funds.
  • The third bill is aimed at creating a "safe harbor for taxation of the Crypto-currency".

The document should protect taxpayers from fines imposed by the US Internal Revenue Service (IRS), unless the IRS develops clear criteria for how the revenues from crypto-currency transactions should be declared.

Earlier it became known that the US Securities and Exchange Commission received a letter signed by the former managing director of Morgan Stanley Caitlin Long, Bitcoin Core developer Brian Bishop, investment fund lawyer Gavin Fieri, the founder of the Ernst & Young armchair division Angus de Crespini and the pioneer of developments in sphere of electronic commerce Christopher Allen. They believe that the regulation of corporate implementation of bitcoins is dangerous for technology.

As we already mentioned , the Canadian company Coin Capital Investment Management Inc. (Coincapital), the investment and asset management division of the regulated trading cryptographic platform Coinsquare, announced the launch of two traded funds (ETF) on the Toronto Stock Exchange (TSX).