The United States Congress considers bitcoin

The United States Congress considers bitcoin

On Friday afternoon, a digital currency bitcoin bifurcation “Bitcoincash” value soared 40% to $655. This is not a stable currency value growth has also attracted more attention in Washington, but Washington government mostly ignore the visibility of the monetary promotion. According to DailyCaller (D.C.) learned that, at present, three members of Congress are making laws to protect some digital money from government intervention.

According to theD.C. news from the Houses of Parliament who learned that several members of Congress are considering compliance digital currency AMLBitcoin compliance ability. Bitcoin is a digital currency’s most famous (or encryption currency), its price rose sharply in the past few weeks. BusinessInsider reported this week that a single bitcoin value has reached $4400, and more than 300% have been rising since the beginning of 2017 the price of bitcoin.”

Despite the very value of bitcoin, but about bitcoin there is still a lot of controversy. New York post has reported that in August, a young British model in the dark to online “$353000 bitcoin price auction, the reason is unable to track digital currency.

The Congress is currently developing the legislation is to provide protection for these currencies, resulting in their minimum satisfy certain conditions, to prevent the money by terrorists, drug traffickers and other illegal business activities of the people. The plan will enable the digital currency to break through the shadows, and expects the plan will get liberal congressional support, but will also face the Ministry of finance officials do not want to face competition against the dollar.

Because until the August congressional recess, before starting the discussion, therefore, currently in Congress during the drafting and review of the legislation. In view of the complexity of the sensitivity of the issue and solution, verify the three positions of members of the study of this problem requires the wrong message.

And a source close to the plan told TheDC, at least one of the Senate Republicans and two Republican members of the house of Representatives is making a careful study of the legislation, and intends to implement legislation in the fall.

Understand a source of the plan of TheDC:

“The plan is the core of the digital currency to the mainstream, so as to be able to enjoy the same treatment as the dollar. First of all, is considering a new entity issued a new digital currency, but the digital currency is different from other currencies, will comply with the anti money laundering law.”

Although there are cash payment for illegal activities such as the same problem, but for the digital currency will be used for the concept of illegal activities is considered to be the main obstacle to the American public to accept digital currency.

The source told the TheDC that the new model will follow the federal law to prevent money laundering. This is a breakthrough, but also may use digital currency instead of dollars for many transactions. The bill is expected to be launched in early September.

The source asked not to participate in the drafting of the public act of Congress, and explained:

“This is a very complicated problem, and the staff is on who used to prevent the alternative currency problems.”

They continue to express:

“You need to modify the legal protection of digital money from the federal government’s annoyance, so as to ensure the compliance of money can get valuable support, can not be regarded as money or securities investment funds, but also free transfer tax. The most important is that Congress needs to eliminate all obstacles to the realization of digital currency dynamic, and these currencies will spontaneously prevent criminals use them.”

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