Representative Emmer also introduced the Blockchain Regulatory Certainty Act, to protect software developers and non-controlling blockchain service providers, as well as two companion bills: the Blockchain Promotion Act and the Safe Harbor for Taxpayers with Forked Assets Act. On the other side of the aisle, Representative Soto co-sponsored the Blockchain Promotion Act and the U.S. Virtual Currency Market and Regulatory Competitiveness Act, a bill that would recommend regulatory structure and would require the Commodity Futures Trading Commission and the Securities and Exchange Commission to determine the benefits of digital currencies to the commodity market.

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The only legislation to move beyond the introductory phase was sponsored by caucus member Patrick McHenry. The bill passed the House in April and, if adopted, would order the SEC and the CFTC to form a working group to analyze the regulatory framework for digital assets in the United States.

Additional bills call for the establishment of a National Blockchain Technology Coordination Office, a report about unfair trade practices related to tokens, a study to consider the use of blockchain technology to improve election security, and a requirement to report cryptocurrency ransom payments.

Representative Emmer also introduced the Blockchain Regulatory Certainty Act, to protect software developers and non-controlling blockchain service providers, as well as two companion bills: the Blockchain Promotion Act and the Safe Harbor for Taxpayers with Forked Assets Act. On the other side of the aisle, Representative Soto co-sponsored the Blockchain Promotion Act and the U.S. Virtual Currency Market and Regulatory Competitiveness Act, a bill that would recommend regulatory structure and would require the Commodity Futures Trading Commission and the Securities and Exchange Commission to determine the benefits of digital currencies to the commodity market.

Subscribe for thoughtful explorations and leisurely reads from Magazine.

By subscribing you agree to our Terms of Service and Privacy Policy

The only legislation to move beyond the introductory phase was sponsored by caucus member Patrick McHenry. The bill passed the House in April and, if adopted, would order the SEC and the CFTC to form a working group to analyze the regulatory framework for digital assets in the United States.

Additional bills call for the establishment of a National Blockchain Technology Coordination Office, a report about unfair trade practices related to tokens, a study to consider the use of blockchain technology to improve election security, and a requirement to report cryptocurrency ransom payments.