Can Congress Save Blockchain in America?
Yesterday the Token Taxonomy Act of 2019 was introduced to Congress.
The legislation was introduced to provide regulatory certainty for businesses, entrepreneurs, and regulators in the U.S.’s blockchain economy.
And regulatory certainty is needed as blockchain projects are choosing anywhere but the U.S. to do business.
The bill is authored by Congressman Warren Davidson (OH-08) and co-sponsored by Representatives Darren Soto (D-FL-09), Josh Gottheimer (D-NJ-05), Ted Budd (R-NC-13), Tulsi Gabbard (D-HI-02), and Scott Perry (R-PA-10).
According to US Congressman Warren Davidson “The Token Taxonomy Act is the key to unlocking blockchain technology in America.”
“As blockchain technology continues to emerge, it is clear that there must be a framework in place that not only provides a much clearer path forward for open blockchain projects, but also will establish the United States as a leading force in this space," said Congressman Josh Gottheimer.
And Congressman Scott Perry said, "Blockchain technology is fundamental to our future economy."
Let’s hope Congress can move faster than the SEC… but don’t hold your breath.
or Abra
and trade cryptos on Binance and Bibox...
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While they do not fill it with taxes and regulations, everything is fine.
Is that why EOS will be on Coinbase? Airdrops for Americans ?
This post has received a 3.91 % upvote from @boomerang.
It can save for itself, not sure about saving anything else.
I’d love to see congress properly develop a crypto policy but they need to bring in industry experts and focus on letting things naturally evolve rather than legislating things into a corner. At least this is better than letting the SEC take point.
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