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Pro-cryptocurrency members of US Congress are wasting no time in the new year - first cryptocurrency related bill just introduced!

As you may remember, we ended 2018 with members of congress submitting new pro-cryptocurrency laws via bills designed to update US regulations - allowing for industry growth, and giving citizens the freedom to fully participate in the markets once again.

However, this was submitted on their final day of 2018 in Washington DC. This means it was only symbolic, because there's not enough time to actually call a vote before they're dismissed to return in the new year. Officials do this to simply show citizens and fellow members of congress what's on their agenda.

We thought it could be months in to 2019 until anything cryptocurrency related would be addressed again.  Even when thinking optimistically, expecting anything during the ongoing "government shutdown" seemed unrealistic.

Well i'm happy to admit - we were WRONG!

Barely 2 weeks in to the new year, things have just been set into motion. Wasting no time, the first of several bills has just been introduced - along with a new route towards it becoming law.

This is perhaps a good time to read why i'm predicting all of these bills will pass if you missed that report a couple weeks ago. It's not just wishful thinking, the odds are highly in our favor for several reasons.

I'll be honest - isn't the most exciting bill of the bunch, but it's an important first step.

Now officially submitted as House Resolution 528 and titled "To provide a safe harbor from licensing and registration for certain non-controlling blockchain developers and providers of blockchain services."

In short, this addresses laws regarding the transferring of money.

The current laws were written before cryptocurrency existed, but because they are worded with such broad terminology, they still apply to it. These strict guidelines also come with large fines for companies violating them.

However, as cryptocurrency advocates will point out - these laws were intended for the banking industry and simp...

Continue on globalcryptopress.com
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