US would regulate cryptocurrencies
Libertarian legislators have introduced a bill to regulate the online financial system of cryptocurrencies.
US.- Libertarian Republican Congress members are preparing a measure to avoid the government’s control over cryptocurrencies system. The new financial modality allows internet users to operate through an online market with digital currencies. International players often use cryptocurrencies to participate in online gaming platforms.
“The center piece of the plan is to mainstream digital currency so it can be treated just like the American dollar. First, there is a new entity that is considering issuing a brand new digital currency. It is compliant with anti-money laundering laws unlike any other in circulation,” told an anonymous legislative source to coinpedia.org.
According to the specialist organisation, one Republican Senator and two congressmen will present the complete draft by September. Legislators expects the bill to go live within the following weeks after the presentation. The online currencies website also explains that “the bill marks as protection from harassment of the federal government and defends transactions utilising currencies against taxation.”
The main idea of the bill is to bring cryptocurrencies as a better alternative to the US dollar. Legislators believe the measure would be supported by libertarian congress members and opposition from treasury offices. Furthermore, the project would include conditions to prevent financial crimes such as money laundering.