US Congressman to present bills to support Blockchain

US Congressman Tom Emmer plans to introduce three bills to support Blockchain technology and cryptocurrencies, focusing on supporting and developing Blockchain technology and to provide a "simple legal environment".

The three proposals are titled the "Resolution Supporting Digital Currencies and Blockchain Technology", the "Blockchain Regulatory Certainty Act", and the "Safe Harbor for Taxpayers with Forked Assets Act".

If passed, these laws lead the federal government to provide a "simple legal environment", and to restrict fines against individuals reporting "bifurcated" digital assets until the IRS provides formal guidance on appropriate means of communication. According to Emmer, "taxpayers can only comply with the law when the law is clear."

According to the congress, "the United States should prioritize the acceleration of the development of Blockchain technology and create an environment that allows the US private sector to lead innovation and growth, and that is why I am presenting these bills ".

Emmer has assumed the position of co-chair of Congress's Blockchain Caucus, a platform for industry and government collaboration to examine the implications of Blockchain and digital coins. According to the announcement, "Caucus believes in a regulatory approach that allows this technology to evolve in the same way as the Internet; alone".