Virginia lawmakers called for a new cryptocurrency impact study

nRunaway Comment: Virginia lawmakers to submit a new bill, the proposed state company committee to study the impact of cryptocurrency prices and utilization rates and create the appropriate system to protect the interests of citizens. At present the motion is still under review, it is unclear what the relevant laws and regulations will take. However, state government officials earlier allocated funds to a Bitcoin mine to boost job growth.n
nTranslation: Annie_Xun
A new round of research on the impact of cryptocurrencies on the part of the Virginia lawmakers to submit new bills.n
If approved, Glen Sturtevant’s proposed study will assess how cryptocurrency growth and its use can affect ordinary citizens in the state. Public records show that the bill has been submitted to the State Senate Rules Committee for evaluation.n
Its focus is to ask legislators if “a system should be put in place to protect federal citizens from the existing and potential negative effects of participating in cryptocurrencies.” Sturtevant’s motion states that the study is the first step in creating this system.n
n”If it is certain that such a system has been set up correctly, the Commission will establish the laws and regulations that will be required to establish the system. The State Corporation Commission will complete the study and submit a report to the State Assembly on December 1, 2018.”n
nIt is unclear what laws and regulations the state may adopt once the study finds that it needs to be closely monitored. The State Company Committee is the state responsible for approving and overseeing state-wide transfers, indicating that it will ultimately or should strengthen its position in the region.n
In fact, cryptocurrency has been welcomed by the state government. Last week it was reported that local Virginia Beach officials have already allocated funds to a bitcoin mine to boost job growth.n

Leave a Reply

Your email address will not be published. Required fields are marked *