RATE Group | US Congress Considering More Than Two Dozen Cryptocurrency and Blockchain Proposals
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US Congress Considering More Than Two Dozen Cryptocurrency and Blockchain Proposals

30 Apr US Congress Considering More Than Two Dozen Cryptocurrency and Blockchain Proposals

Posted at 04:46h in Cryptocurrency News by

Members of the 116th US Congress have now proposed a total of 32 bills related to cryptocurrency and blockchain technology this year.

They cover a wide range of concerns, possible use cases and new approaches to regulating, integrating and curtailing the use of the emerging technology depending on the players, their activities and their goals.

Citing data from Value Technology Foundation, a non-profit think tank focused on blockchain, Forbes reports that US legislators introduced 12 bills that are expressly designed to curb the use of cryptocurrency in criminal activities like money laundering, terrorism and trafficking.

While cryptocurrency has its early roots tied to the darknet with Bitcoin serving as a popular medium of exchange on the now-defunct Silk Road, it has since evolved, requiring legislation that can support it as well as monitor its use among criminals, tax evaders and adversaries.

One of the proposed laws seeks to address the…

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